FX.co ★ German Unemployment Rises Less Than Expected

The rate of unemployment in Germany for February rose less than anticipated, indicating that the economy, although under significant strain, is less affected than initially thought, according to data released on Thursday.

Reports from the Federal Labor Agency show an increase of only 4,000 unemployed people in March, a much smaller figure than the anticipated increase of 10,000. The numbers follow a rise of 12,000 in February.

The unemployment rate remained consistent at 5.9 percent, in line with predictions. However, the agency also noted that while both unemployment and underemployment decreased in March, the reduction was less significant than typically observed in this timeframe, according to Federal Employment Agency Chief Andrea Nahles.

Further information from Destatis showed the adjusted rate of unemployment stayed constant at 3.2 percent in February, with the total number of unemployed reaching 1.41 million, an increase of 5,000 from January's figures.

The unadjusted jobless rate came in at 3.5 percent, up from 3.0 percent the previous year. Despite decreases, employment saw a positive incline of 0.4 percent or 194,000 year-on-year in February. Destatis recorded a continued yet subdued improvement in the labor market.