July unemployment in Germany increased more than forecast, pushing the jobless rate to its highest level since April.
German unemployment rose by 6,000 in July, exceeding the 5,000 increase economists had anticipated. The jobless rate ticked up to 6.4%, the highest since April and matching levels last seen in mid-2020.
The prior month saw a decline of 1,000 unemployed persons, while expectations had centered on a 6.3% jobless rate. The total number of unemployed individuals now stands at approximately 2.993 million.
Labor market softness reflects broader economic weakness in Europe’s largest economy, with seasonal factors and geopolitical uncertainty cited as contributing pressures.