German unemployment rises slightly in October on growing uncertainty

GERMAN unemployment rose slightly in October, Labour Office figures showed on Wednesday (Nov 2), as the consequences of economic uncertainties began to have a visible effect.

The Federal Labour Office said the number of people out of work rose by 8,000 in seasonally adjusted terms to 2.518 million, below expectations of analysts polled by Reuters.

The seasonally adjusted jobless rate remained stable at 5.5 per cent.

“Overall, the labour market continues to be robust, and employment in particular continues to grow,” Labour Office chief Andrea Nahles said.

“However, the consequences of economic uncertainties are visible: for example, more companies are again preparing for possible short-time work and reducing their demand for new staff,” added Nahles. REUTERS