German Unemployment Rises in November
Unemployment in Germany increased slightly in November, amid signs that the labor market is increasingly feeling the pinch from the eurozone debt crisis, official data showed on Thursday.
The jobless rate, both in raw and seasonally adjusted terms, was unchanged in November from October, but the adjusted jobless total increased slightly, the Federal Labor Agency said in a statement.
Unadjusted data showed that the jobless rate was steady at 6.5 percent and in seasonally adjusted terms -- which irons out usual seasonal fluctuations -- it stood at 6.9 percent.
But the jobless total rose by 5,000 on an adjusted basis, as Europe's recession increasingly makes itself felt in the region's top economy, the agency calculated.
"The German economy is increasingly feeling the pull of the recession in Europe. Its already shallow growth path is continuing to lose momentum," said agency chief Frank-Juergen Weise.
"The labor market has remained comparatively robust so far, but the downturn is increasingly making itself felt. Employment has practically shown zero growth, while seasonally-adjusted unemployment increased slightly in November," he said.
Before adjustment, the total number of people registered as unemployed in Germany slipped by 1,874 to 2.751 million in November, the agency calculated.
Source: Agence France Presse
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://cdn.naharnet.com/stories/en/62723 |