German Unemployment Rises Slightly in August

The German jobless total rose slightly in August on the previous month, partly for seasonal reasons.

But Labour Office data showed unemployment close to its lowest figure since the country reunified in 1990.

Joblessness rose by 7,000 to 2.943 million in seasonally adjusted terms in August, the first month-on-month increase since May.

The data will be welcomed by Chancellor Angela Merkel, looking to win a third term in elections on 22 September.

“We were surprised by the rise in the seasonally-adjusted figure. Still, this is not a sign for a change of trend,” said Eckart Tuchtfeld at Commerzbank.

“It can take some months before the better mood in top management will feed through to additional jobs.”

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza