The unemployment rate in Germany experienced a slight rise in March after two months of stagnation, according to official figures released on Friday.
The rate increased to 6.3%, based on seasonally adjusted data from the Federal Employment Agency, reflecting an uptick of 0.1 percentage points compared to February. Analysts surveyed by FactSet had been more optimistic, anticipating that the rate would remain stable.
In seasonally adjusted terms, the number of unemployed individuals rose by 26,000 in March, nearly double the estimates provided by FactSet.
“March marks the beginning of the ‘spring recovery’ in the labor market. However, this year’s recovery is significantly hampered by the ongoing economic downturn,” stated Andrea Nahles, head of the employment agency, in a press release.
Over the past year, the number of unemployed has increased by 198,000, although it remains below the significant threshold of 3 million.
