Germany’s unemployment rate rose to 6.3 per cent in March, according to data from the Federal Employment Agency released on Friday.
The figure stood at 6.2 per cent in February and January. The number of unemployed rose 26,000 month-on-month to 2.922 million in March, the fastest pace since October 2024. The market had expected the figure to rise by 10,000.
On a year-on-year basis, the number of unemployed rose by 198,000, approaching the 3 million threshold.
On the other hand, Destatis reported that the monthly employment rate was little changed in February, with the number of people employed falling slightly by 10,000 to 45.6 million.
On a year-on-year basis, however, the figure fell 0.1 per cent or 57,000 in February, according to Destatis.
