Downturn dogs German labour market

The German labour office said this morning the economic downturn is continuing to hit the labour market.

The German labour office said this morning the economic downturn is continuing to hit the labour market.

The comments followed the release of better-than-expected August jobless data, with the seasonally adjusted number of jobless rising 2,000 compared to July. Market consensus was for a rise of 13,000.

The total number of jobless for Germany in August was 4.018 million, down an unadjusted 28,700 compared to July, and up 229,400 compared to August last year.

The unadjusted jobless rate in August was 9.6 per cent, compared to 9.7 per cent in July.

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In west Germany, the number of jobless rose a seasonally adjusted 9,000 compared to July. In east Germany, the total number of jobless fell a seasonally adjusted 7,000 compared to July.

PA