German Unemployment Rises Less Than Forecast

(RTTNews) - Germany's unemployment increased less than expected in October, data from the Federal Employment Agency revealed Friday.

The number of unemployed increased by 4,000 from the previous month compared to economists' forecast of 5,000. Unemployment had increased 12,000 in September.

The unemployment rate remained unchanged at 6.4 percent in October and matched expectations.

"The economic conditions are still insufficient for an improvement in the labor market," Federal Employment Agency head Andrea Nahles said. The decline in unemployment in October was comparatively weak, Nahles noted.

Data showed that demand for labor remained weak. Job openings registered with the labor office increased by 31,000 from the last year to 654,000. Elsewhere, data from Destatis today showed that the number of unemployed increased 7,000 or 0.4 percent in September from August. The adjusted jobless rate remained unchanged at 4.1 percent in September.