Investing.com - The number of unemployed people in Germany rose for the first time in three months in August, while the country’s jobless rate held steady, official data showed on Thursday.
In a report, Germany's Federal Statistics Office said the number of unemployed people rose by a seasonally adjusted 7,000 in August, confounding expectations for a decline of 5,000.
Jobless claims in July fell by 7,000.
The report showed that Germany’s unemployment rate held steady at 6.8% this month, in line with expectations and unchanged from the previous month.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.59% to trade at 1.3260.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.35%, France’s CAC 40 inched up 0.4%, Germany's DAX advanced 0.4%, while London’s FTSE 100 tacked on 0.7%.
In a report, Germany's Federal Statistics Office said the number of unemployed people rose by a seasonally adjusted 7,000 in August, confounding expectations for a decline of 5,000.
Jobless claims in July fell by 7,000.
The report showed that Germany’s unemployment rate held steady at 6.8% this month, in line with expectations and unchanged from the previous month.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.59% to trade at 1.3260.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.35%, France’s CAC 40 inched up 0.4%, Germany's DAX advanced 0.4%, while London’s FTSE 100 tacked on 0.7%.