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German jobless claims rise by 2,000 in August

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Investing.com -

Investing.com - The number of unemployed people in Germany rose unexpectedly in August, while the country's jobless rate held steady at a record low, official data showed on Thursday.

In a report, Germany's Federal Statistics Office said the number of unemployed people increased by a seasonally adjusted 2,000 this month, compared to expectations for a drop of 5,000. Jobless claims in July fell by 11,000.

The report showed that Germany's unemployment held steady at 6.7% in August, in line with expectations and unchanged from July.

Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.05% to trade at 1.3200, compared to 1.3204 ahead of the report.

Meanwhile, European stock markets were lower. Germany's DAX fell 0.65%, the DJ Euro Stoxx 50 slumped 0.45%, France's CAC 40 declined 0.4%, while London's FTSE 100 shed 0.15%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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