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30.06.2022

Germany's unemployment rate unexpectedly rose in June

According to the report from the Federal Employment Agency, in June the unemployment rate (seasonally adjusted) rose to 5.3% compared with 5% in May. Economists had expected unemployment to remain at 5%. Meanwhile, the number of unemployed increased by 133 thousand, to 2,417,000, after a decrease of 4 thousand last month. Consensus estimates suggested a reduction of the unemployed by 6 thousand. However, the Federal Employment Agency explained that the sharp increase in the number of unemployed was due to the fact that Ukrainian refugees are registering with the office in search of work.

The data also showed that the number of registered job vacancies stood at 877,000 in Tune, up 184,000 on year.

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