German labor market resilient despite unemployment uptick

30 Sep 2015 | Author: | No comments yet »

German Unemployment Unexpectedly Rises in Sign of Economic Risks.

Official data show that Germany’s unemployment rate fell to 6.2 percent in September, a decline that was expected as hiring picked up after the summer break and underlines the healthy state of Europe’s biggest economy.

German unemployment unexpectedly rose in September in a sign that Europe’s largest economy is not immune to risks from slowing growth in emerging markets.Berlin (dpa) – German unemployment posted an unexpected gain in September, data released Wednesday showed, underlining worries about the prospects for Europe‘s biggest economy as a result of an uncertain global growth outlook. “There was a slight increase in seasonally adjusted unemployment but overall the favourable trend in the labour market has continued,” labour office chief Frank-Juergen Weise said. When adjusted for seasonal developments, the unemployment rate was unchanged at 6.4 percent for the sixth consecutive month and the number of people out of work crept up by 2,000.

The slowdown there and in other emerging nations is a challenge for Germany’s trade-focused business model that helped propel the rate of economic expansion to the fastest since 2011.

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