Germany's Unemployment Rises Amid Autumn Economic Slump

Germany's unemployment rate increased more than expected in October, with 27,000 more people out of work, reaching a total of 2.86 million. The rate stayed stable at 6.1%. Analysts had predicted a smaller rise of 15,000. The usual autumn improvement didn't occur this year.

Unemployment in Germany has risen more sharply than anticipated in October, as reported by the federal labour office on Wednesday. In seasonally adjusted terms, the number of unemployed individuals increased by 27,000, bringing the total to 2.86 million.

Despite the increase in unemployment, the seasonally adjusted job rate held steady at 6.1%. This unexpected rise exceeded the expectations of analysts, who had forecasted an increase of only 15,000.

The head of the labour office, Andrea Nahles, attributed the stagnation to the failure of the autumn economic upswing to manifest this year.

(With inputs from agencies.)