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German unemployment unexpectedly falls in May

German unemployment unexpectedly fell in May by 12,000 seasonally adjusted, with the jobless rate at 6.3%. Labour office cites one-off effect, while economists warn of future increases.

Matthew King
ByMatthew King- Senior Editor
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The number of unemployed people in Germany fell unexpectedly in May, labour office figures showed, but it warned of a one-off effect.

In seasonally adjusted terms, jobless figure fell by 12,000, while analysts had predicted an increase of 10,000.

The overall unadjusted number of unemployed fell below 3 million to 2.95 million.

The seasonally adjusted jobless rate stood at 6.3% in May, 0.1 percentage points lower than the previous month.

Labour office head Andrea Nahles said: "Despite a decline in unemployment, the spring upturn has not really gained momentum this year."

Economists have warned that increases in unemployment are likely in the coming months due to delayed reactions to geopolitical shocks.

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German unemployment unexpectedly falls in May | Bond.az