• Unemployment change -1k vs 7k expected
• Prior -12k
• Unemployment rate 6.3% vs 6.3% expected
• Prior 6.3%

German unemployment unexpectedly fell in June with the jobless figure dropping by 1k against expectations of a 7k increase. That brings the overall number of unemployed persons to 2.984 million now. As for the jobless rate, that remains steady at 6.3% as the labour market continues to just move along in a more sluggish state in general.

The labour office notes that: “There is little sign of change in the labour market. Unemployment is falling only slightly, and employment subject to social security contributions is continuing its slight downward trend.”

This article was written by Justin Low at investinglive.com.