German unemployment ticks lower, but jobs market still subdued

(Sharecast News) - The unemployment rate in Germany held steady in June, though the number of jobless people unexpectedly declined for the second straight month. The seasonally adjusted unemployment rate was 6.3% this month, according to figures from the government labour office on Tuesday, in line with analysts' expectations.

The adjusted jobless rate briefly hit a six-year high of 6.4% in April before falling back to 6.3% last month, a level that it has stayed at for most of the past year.

The adjusted number of unemployed people fell by 1,000, compared with the 7,000 increase predicted by analysts, bringing the overall number to 2.984m.

However, according to Andrea Nahles, head of the country's labour office, the statistics show "little sign of change" in the jobs market.

"Unemployment is falling only ​slightly, and employment subject to social security contributions is continuing its slight downward trend," Nahles said.