RT.com
Published: 31 July, 2012, 16:56
German unemployment rose for a fourth straight month in July as crisis-hit businesses delayed hiring. It’s a reminder the country, which many in the Eurozone are looking to for help, may have to set its sights on its own economic problems.
The number of people out of work rose a seasonally adjusted 7,000 to 2.89 million, the Federal Labor Agency in Nuremberg said on Tuesday. The adjusted jobless rate held at 6.8%. The current rate is still low compared with 8.2% in the US, 10.1% in France and Italy and a euro-area average of 11.1%. However it isn’t showing a turn around with German unemployment sustaining an almost uninterrupted decline for more than two and a half years. Germany’s jobless rate was 5.6% in May, according to the latest harmonized OECD figures.
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