German unemployment rate steady at 6.2% in February

ISTANBUL

Unemployment in Germany stood at 6.2% in February, according to Federal Employment Agency figures released Friday.

The number of unemployed people rose by 5,000 to 2.88 million, below the market forecast of 14,000.

However, “cyclical weaknesses in the labor market remain evident in February,” said Daniel Terzenbach, who sits on the agency’s executive board.

According to the agency, the number of unemployed people has "slightly decreased compared to January" by over 3,000 according to unadjusted statistics, which are less representative of long-term trends but are used as a benchmark in public discussions.

On a yearly basis, the number of jobless people rose 175,000, getting closer to the 3 million mark.

The employment rate, on the other hand, posted no change in February monthly, with the number of employed people falling 9,000 to 45.6 million.

Year-on-year, it fell by 0.1%, or by 37,000 persons in February, according to Destatis data.