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German jobless claims rise by 21,000 in May

Economic IndicatorsMay 29, 2013 07:57AM GMT Add a Comment
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Investing.com - The number of unemployed people in Germany rose for the third consecutive month in May, while the country’s jobless rate held steady, official data showed on Wednesday.

In a report, Germany's Federal Statistics Office said the number of unemployed people rose by a seasonally adjusted 21,000 in May, significantly above expectations for an increase of 5,000.

Jobless claims for April were revised to an increase of 6,000 people from a previously reported gain of 4,000.

The report showed that Germany’s unemployment rate held steady at 6.9% this month, in line with expectations.

Following the release of the data, the euro trimmed gains to trade little changed  against the U.S. dollar, with EUR/USD adding 0.03% to trade at 1.2859.

Meanwhile, European stock markets held on to losses. The EURO STOXX 50 fell 0.9%, France’s CAC 40 declined 0.9%, Germany's DAX dropped 0.9%, while London’s FTSE 100 retreated 1.1%.

German jobless claims rise by 21,000 in May

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