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German jobless rise less than expected


German jobless rise less than expected


German unemployment rose for the eighth month in a row.

The increase was less than expected up by 5.000 to close to 3 million. Forecasters predicted the jobless rate to rise by some 15.000.

Germany has remained immune from the worst ravages of the eurozone crisis, but recent data suggests that the zone’s biggest economy is finally feeling the effects with growth slowing to 0.2 in the third quarter.

Frank-Jürgen Weise is the head of the German job agency:

“The number of people in work will remain more or less stable, unemployment figures may rise a little. In the first half of 2013 the job market will remain weak in the second things may improve.”

German domestic demand is robust, but the economy is being hurt by a fall in exports as the rest of the eurozone is in recession to a greater or lesser degree.

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