German Unemployment Rate Remains Unchanged

(RTTNews) - Germany's unemployment rate remained unchanged in August, data from the Federal Employment Agency revealed Friday.

The jobless rate held steady at 6.4 percent in August and matched economists' expectations.

At the same time, the number of people out of work increased by 4,000, as expected, compared to 6,000 in July.

"Even in August, the labor market shows little dynamism beyond the usual seasonal pattern," Federal Employment Agency head Andrea Nahles said. The figures suggest that subdued trend of the past few months continued in August, Nahles added.

The labor force survey results published by Destatis today showed that the unemployment rate remained unchanged at adjusted 4.0 percent in July. The number of unemployed increased 11,000 or 0.6 percent to 1.74 million in July.