German June unemployment rises less than expected
By Frank Prenesti
Date: Wednesday 01 Jul 2020
(Sharecast News) - Germany reported a less-than-expected rise in June unemployment as the government's short-time work scheme helped to offset the economic impact of the coronavirus pandemic.
The country's Federal Labour Agency on Wednesday said an extra 69,000 people were out of work in seasonally adjusted terms, pushing the unemployment rate to 6.4% from 6.3% the previous month and 5% in March.
The headline unadjusted jobless rate rose to 6.2% from 6.1% in May with 2.85 million people registered as unemployed - 40,000 more than in May and 637,000 more than a year earlier.
"The labour market remains under pressure from the coronavirus pandemic," said agency head Detlef Scheele.
In Germany, Europe's largest economy, the government pays at least 60% of wages for employees on reduced or zero hours. The agency said it paid out for 6.83 million people in April, the most recent month for which it has figures, up from 2.49 million in March when the pandemic hit Germany.
Germany started easing coronavirus restrictions in late April although many restrictions were still in place.
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