Germany Jobless Rate Rises to 6.4% as 2.99 Million Unemployed Near 3 Million Mark
Updated
Updated · TradingView · Jul 31
Germany Jobless Rate Rises to 6.4% as 2.99 Million Unemployed Near 3 Million Mark
3 articles · Updated · TradingView · Jul 31
Summary
Germany’s seasonally adjusted unemployment rate rose to 6.4% in July from 6.3%, beating expectations for no change as the number of unemployed increased by 6,000 to 2.99 million.
Iran war fallout that began in February has continued to hit the labor market with a lag, while July inflation accelerated to 2.8% as higher energy prices spread through the economy.
Non-seasonally adjusted unemployment already moved above 3 million, underscoring broader weakness after June employment fell 223,000 from a year earlier trend that has been deteriorating since early 2025.
Second-quarter GDP growth topped expectations, but renewed US-Iran hostilities risk keeping energy prices high, hardening ECB tightening bets and weighing on German investment and consumer spending.