Germany's unemployment rate up to 6.3% in March, above forecasts

ISTANBUL

The unemployment rate in Germany increased to 6.3% in March, according to Federal Employment Agency figures on Friday.

The rate stood at 6.2% in February and January.

The number of unemployed people rose by 26,000 month-on-month to 2.922 million in March, marking the fastest rate since October 2024.

The market expected the figure to increase by 10,000 people.

On a yearly basis, the number of jobless people grew by 198,000, getting closer to the 3 million threshold.

On the other hand, according to Destatis, the monthly employment rate posted mostly no change in February, with the number of employed people slightly decreasing by 10,000 to 45.6 million.

Year-on-year, meanwhile, it fell by 0.1%, or by 57,000 persons in February, according to the Destatis data.