German unemployment ticks up in May
BERLIN (AP) — Official figures show unemployment ticked up in Germany in May, showing the effects of slowing growth in Europe’s largest economy.
The Federal Labor Agency says said Wednesday that unemployment hit 5 percent in May, up from 4.9 percent in April, according to figures adjusted for seasonal factors.
In unadjusted terms, the rate remained steady at 4.9 percent with 2.24 million people without jobs. Compared to a year ago, the number of jobless dropped by 80,000.
The agency says “the first effects of the somewhat weaker economic development recently are evident on the labor market.”