German Unemployment Change

The number of unemployed persons looking for a job in Germany for the month of January rose by 56K, much stronger than what analysts had expected. The unemployment number in Germany has been in a strong downtrend since 2005, but it seems the economic slowdown that the German economy faces had reach the job market. Previously, the unemployment rate reached a 16-years low. Unemployment rate climbed highly to 7.8% from 7.7% in the previous month as business activities slowed down and companies cut positions. In the coming few months, we will likely see further rise in unemployment rate.