Unexpected Surge in German Unemployment Raises Economic Concerns

Germany saw a larger-than-expected rise in unemployment in September, with the number of jobless increasing by 17,000 to 2.82 million. The job rate held steady at 6.0% despite fewer job openings compared to last year. Analysts had only anticipated a rise of 12,000.

Germany's unemployment figures saw an unwelcome rise in September, surpassing projections and highlighting ongoing economic struggles. According to the federal labour office, the number of unemployed climbed by 17,000 in seasonally adjusted terms, reaching 2.82 million.

Analysts had earlier anticipated a lower increase of 12,000, underscoring the unexpected nature of the surge. Despite this, the seasonally adjusted job rate remained stable at 6.0%.

Moreover, job openings have declined significantly, with 696,000 available positions in September, down by 65,000 from the previous year as noted by the labour office.

(With inputs from agencies.)