Germany's unemployment rose by 4,000 in October, a smaller increase than the 5,000 predicted by analysts, according to labor office figures released on Friday. The seasonally adjusted unemployment rate held steady at 6.4%.
Germany's labor market showed a slightly more resilient picture than anticipated in October, though labor office head Andrea Nahles indicated that economic conditions are not yet sufficient for significant improvement.
Germany's unemployment rose slightly less than expected in October, with a seasonally adjusted increase of 4,000 people, bringing the total to 3.016 million. Analysts had forecast an increase of 5,000. The unemployment rate held steady at 6.4%. The unadjusted figure fell by 40,000 to 2.955 million, marking the second consecutive month below the 3 million mark. Labor office head Andrea Nahles stated that economic conditions are not yet sufficient for labor market improvement. The number of registered job openings increased by 31,000 year-on-year to 654,000.
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