Latest data released by the Federal Employment Agency - 29 May 2019
- Prior -12k
- Unemployment rate 5.0% vs 4.9% expected
- Prior 4.9%
The jobless change unexpectedly rose for the first time in two years while the unemployment rate ticked higher for the first time since November 2013. The report here will set off some alarm bells as the FEA raised concerns that the economic slowdown may be starting to affect the German labour market.
The agency also noted that 2/3 of the increase came from reclassification of some people in the statistics though. So, let's see if we're going to be seeing more of a developing trend in the coming months or if this is a one-off.
Nonetheless, the unemployment rate is just a tick off the record low posted in April so there's no need to panic all too much just yet.
