German unemployment rate reaches 5.9% in December, highest since May 2021

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Link Securities | As released yesterday by the German Federal Employment Agency, Germany’s seasonally adjusted unemployment rate rose to 5.9% in December from a revised 5.8% in November, bringing the reading in line with the FactSet consensus of analysts. December’s is the highest unemployment rate since May 2021.

The number of unemployed rose by 5,000 from November to 2.703 million in December, making it the eleventh consecutive month of rising unemployment.

The analyst consensus expected unemployment to rise by 20,000 in the month. On a year-on-year-year basis, unemployment rose by 186,000 in the month of December.

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