German Unemployment Rises Again in August - Federal Labor Office By Investing.com

Fed hikes by 0.25% in further downshift on tightening, but sees more hikes ahead

German Unemployment Rises Again in August - Federal Labor Office

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By Scott Kanowsky

Investing.com -- German unemployment increased in line with expectations in August, according to Labor Office data released on Wednesday, due to the summer break and the country's ongoing registration of Ukrainian refugees.

The Federal Labor Office said the number of people out of work rose by 28,000 during the month in seasonally adjusted terms, meeting economists' estimates. The uptick brings total unemployment up to 2.497M.

However, the reading is lower in comparison to the previous two months, with the level hitting 45,000 in July and 132,000 in June.

Meanwhile, the seasonally adjusted unemployment rate edged higher to 5.5%.

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