Latest data released by the Federal Employment Agency - 29 August 2019
- Prior 1.0k
- Unemployment rate 5.0% vs 5.0% expected
- Prior 5.0%
The figures here are in-line with estimates with the unemployment rate once again seen holding steady at 5.0% this month.
However, the jump in unemployment total suggests that labour market conditions are beginning to soften amid the weight of a manufacturing recession in the German economy. For some context, the jump represents the fourth straight month that joblessness has failed to drop after six years of nearly continuous decline.
This will no doubt add pressure for lawmakers to introduce fiscal stimulus before the economy begins to crumble in a more profound manner over the next few quarters.
