Investing.com – The number of unemployed people in Germany declined less-than-expected in May, official data showed on Tuesday.
In a report, Germany's Federal Statistics Office said the number of unemployed people declined by a seasonally adjusted -8K in May, after falling by -33K in April, whose figure was revised from a decline of -37K.
Analysts had expected the number of unemployed people to decline by -31K in May.
The report showed that Germany’s unemployment rate declined broadly in line with expectations, falling to 7.0% in May from 7.1% in April.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD jumping 0.91% to hit a three-week high of 1.4413.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 1.55%, France’s CAC 40 rose 1.25%, the FTSE 100 gained 1.05%, while Germany's DAX rallied 1.5%.
In a report, Germany's Federal Statistics Office said the number of unemployed people declined by a seasonally adjusted -8K in May, after falling by -33K in April, whose figure was revised from a decline of -37K.
Analysts had expected the number of unemployed people to decline by -31K in May.
The report showed that Germany’s unemployment rate declined broadly in line with expectations, falling to 7.0% in May from 7.1% in April.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD jumping 0.91% to hit a three-week high of 1.4413.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 1.55%, France’s CAC 40 rose 1.25%, the FTSE 100 gained 1.05%, while Germany's DAX rallied 1.5%.