Germany's Unemployment Rate Climbs in July

The Federal Employment Agency (Bundesagentur fuer Arbeit) reported on Thursday that Germany's unemployment rate reached 6.3% in July, a slight increase of 0.1 percentage points from June. This marks a notable rise in the number of unemployed individuals, totaling 2,979,000 for the month.

Monthly and Yearly Comparisons

Compared to the previous month, unemployment figures rose by 65,000, and when compared to July 2024, the increase was even more significant at 171,000. On a seasonally adjusted basis, unemployment saw a modest rise of 2,000 from June to July.

Underemployment Trends

Underemployment, which includes those not working due to labor market policies or short-term incapacity, showed a decrease of 10,000 from June but an increase of 31,000 from the same period last year, reaching 3,609,000 in July.