German Unemployment Rises in June
German unemployment surprisingly rose in June, data from the country's labor agency showed Friday.
In adjusted terms, joblessness increased by 7,000, compared with expectations in a Wall Street Journal survey of analysts of a dip of 10,000. The unemployment rate stood, however, at 5.7%, matching expectations.
When seasonal adjustments weren't considered, however, the labor market data looked stronger. The unadjusted unemployment rate declined 0.1 percentage point to 5.5%, the lowest since 1991.
"Employment and the demand of firms for new employees have again strongly increased", said the head of Germany's labor agency Detlef Scheele in a press release.
--Christine Popp in Nuremberg contributed to this article
Write to Todd Buell at todd.buell@wsj.com
(END) Dow Jones Newswires
June 30, 2017 04:09 ET (08:09 GMT)