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Business

German unemployment edges up in August

The number of jobless people in Germany has risen slightly in both adjusted and unadjusted terms. The Federal Labor Agency attributed the tiny increase to seasonal factors, but said the labor market was generally robust.

The number of jobless people in Germany rose by 32,000 in August if compared to the previous month, bringing the total to 2.946 million, the Nuremberg-based Federal Labor Agency (BA) reported Thursday.

It said the figure climbed by 41,000 year-on-year, while the jobless rate remained steady at 6.8 percent.

"It's true that unemployment has gone up in the summer period," BA chief Frank-Jürgen Weise commented. "But generally, the domestic labor market is fully intact."

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In seasonally adjusted terms, 7,000 more people joined the jobless lines in August.

The Nuremberg agency said that rise was partly attributable to school leavers and college graduates temporarily registering as unemployed before taking up work or starting an apprenticeship in September.

Trends calm

DZ Bank economist Michael Holstein said he didn't expect any major changes on the labor market for the rest of the year.

He said the economy was in a good state, propelled by strong domestic demand and exports to countries outside of Europe. However, with the global economy picking up only slowly, a significant reduction in the number of unemployed people could be a long way off.

hg/pfd (dpa, Reuters)

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