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Business

German Unemployment Rises in July

German unemployment rose in July as the traditional summer slump in the job market carried the jobless rate up to 11.5 percent according to gross or unadjusted figures released on Thursday. Around 68,000 people were added to the jobless figures in July, bringing the total up to 4.77 million, the Federal Labor Agency calculated. The rate in June had been 11.3 percent. However, the seasonally adjusted figures -- which give a better indication of the real employment picture -- showed a drop of 42,000 in the jobless figure, which was better than expected by analysts but still left unemployment close to the five-million mark reached this year for the first time since World War II. Analysts remained pessimistic, saying many of the jobs were so-called one-euro jobs provided by local authorities and non-profit organizations which the unemployed can be obliged to take or risk losing their benefits according to the latest labor market reform.

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