German unemployment rose less than expected in August, the labor office said, according to Reuters

By Maria Martinez

BERLIN (Reuters) – The number of unemployed people in Germany rose significantly less than expected in August, figures from the Federal Labor Office showed on Friday.

The bureau said the number of unemployed rose by 2,000 in seasonally adjusted terms to 2.8 million. Analysts polled by Reuters had expected the figure to rise by 16,000.

The seasonally adjusted employment rate was flat at 6.0%.

There were 699,000 job openings registered at the labor office in August, down 72,000 from a year ago, indicating a slowdown in labor demand.

When looking at the unadjusted number, the number of unemployed rose by 63,000 to 2.9 million, the highest level in three and a half years.

“The labor market continues to feel the effects of economic stagnation,” said Federal Labor Bureau President Andrea Nahles, noting that unemployment rose over the summer.