- July unemployment change 6k vs 5k expected
- Prior -1k
- July unemployment rate 6.4% vs 6.3% expected
- Prior 6.3%
It points to some softness in labour market conditions in the summer with unemployment rising by 6k in July. That brings the total number of unemployed persons recorded to roughly 2,993,000 people.
But perhaps the standout figure is the unexpected nudge up in the jobless rate, moving back up to 6.4%. That is the highest since April, which at the time was the highest since July 2020. So, that arguably points to softer conditions overall as economic conditions in Europe's largest economy remains benign at best since the turn of the year. Naturally, the added struggles from the uncertainty caused by the Middle East conflict is not helping with the situation.
The German labour office notes that: "Unemployment and underemployment are rising noticeably in July, primarily due to seasonal factors. Overall, the weak trend observed in the labour market over recent months is continuing."
This article was written by Justin Low at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
