Recent official figures have revealed that the number of unemployed people in Germany jumped by 7,000 in June, giving an unemployed rate of 6.8 percent of the workforce.
The German Labor Office said on Thursday that the number of people out of work in Europe’s largest economy increased by a seasonally-adjusted 7,000 to 2.882 million in June from 2.875 million in May. The recent figures showed the third consecutive monthly increase in Germany. The jobless rate in the country now stands at 6.8 percent.
Frank-Juergen Weise, the head of the German Employment Agency, considered the latest figures as a sign of a slowing job market in the European state, saying, “The German labor market in June is showing signs of weaker development.”
Carsten Brzeski, an economist at ING Group in Brussels, also said, “Signs are increasing that the resilience of the German labor market is slowly cracking up.”
“This might not be a cause for concern for the German economy, yet, but definitely for the rest of the eurozone,” he added.
Rising unemployment in Germany signals that even Europe’s biggest economy is not immune to the economic crisis in the eurozone and cannot be depended on to prop up growth…
via PressTV – German unemployment climbs amid eurozone economic crisis.
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