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The German unemployment rate increases in March

The German unemployment rate increases in March

Finanznachrichten news

Berlin (DPA -AFX) – German unemployment grew more than expected in March, because the slowdown in the economy continued to weigh on the work market activity, the official data showed on Friday.

The number of people without work increased by 26,000 to 2.92 million, the Federal Agency for Employment said. Unemployment was expected to climb 10,000 after 9,000 increased in February.

The unemployment rate increased to 6.3 percent in March, while it was expected to remain unchanged to 6.3 percent.

The so-called spring recovery on the labor market begins in March, said Andrea Nahles, the head of the Federal Agency for Employment.

However, this year, this year, the recovery is visibly slowed down, Nahles added.

Another data from Destatis showed that the jobless rate remained unchanged at 3.5 percent in February. There were 1.56 million unemployed, up 5,000 or 0.3 percent compared to January.

On an unjustified basis, the job rate was constant at 3.6 percent in February.

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