Slight Rise in German Unemployment Numbers in December, Beats Analyst Expectations: Report

In December, Germany experienced a marginal uptick in its unemployment figures, surpassing analysts’ expectations by a significant margin, as per data released by the Federal Labour Office on Wednesday.

The seasonally adjusted data revealed a modest increase of 5,000 unemployed individuals, bringing the total to 2.703 million. Analysts surveyed by – Reuters had anticipated a more substantial rise, expecting the figure to climb by 20,000.

The Federal Employment Agency’s Chairwoman, Andrea Nahles, highlighted the resilience of the labor market, noting that despite burdens and uncertainties, 2023 marked one of the years with the lowest unemployment rates since Germany’s reunification. The seasonally adjusted jobless rate in December saw a slight increase, reaching 5.9%.