July 31, 2019 / 8:01 AM / 22 days ago

German unemployment rises less than expected in July

BERLIN, July 31 (Reuters) - German unemployment increased less than expected in July, data showed on Wednesday, suggesting that the labour market in Europe’s largest economy so far remains relatively immune to an economic downturn which is driven by a manufacturing crisis.

Data from the Federal Labour Office showed the number of people out of work rose by 1,000 to 2.283 million in seasonally adjusted terms. That compared with the Reuters consensus forecast for a rise of 2,000.

The jobless rate held steady at 5.0% - slightly above the record-low of 4.9% reached earlier this year.

“Unemployment and underemployment increased in July, mainly due to the beginning of the summer break,” said Daniel Terzenbach, a senior official at the Labour Office.

“The demand from companies for new employees is declining slightly and employment is continuing to increase, albeit less dynamically than recently,” Terzenbach added. (Reporting by Michael Nienaber Editing by Michelle Martin)

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