German unemployment rate unchanged for sixth straight month

(Sharecast News) - Germany's unemployment rate held at its highest level in more than four years in August, remaining unchanged for the sixth straight month, according to official statistics out on Friday. When excluding seasonal trends, unadjusted unemployment rose by 46,000, topping the 3m mark for the first time in more than a decade.

However, the seasonally adjusted number of people out of work fell by 9,000 to 2.96m, the labour office reported.



As a result, the seasonally adjusted unemployment rate held steady at 6.3%, in line with economists' predictions.

"The labour market is still marked by the economic downturn of recent years - however, there are also first signs of stabilisation," said Andrea Nahles, the head the labour office.