German Unemployment Rises 12,000 in September, Far Exceeding Forecasts

Germany's seasonally adjusted unemployment rose by 12,000 in September to 3.01 million, the Federal Labour Office said on Sept. 30, far overshooting analyst expectations of a 1,000 increase. The seasonally adjusted jobless rate held steady at 6.4%. In unadjusted terms, the total dipped slightly below the 3 million mark after two consecutive months above it. Labour office head Andrea Nahles said the usual autumn labour market pickup had been sluggish this year. "The economic improvement is not yet reaching the labour market," she said in a statement. The data suggest Europe's largest economy continues to struggle to translate broader growth gains into hiring momentum, a headwind for the euro zone outlook.