German Jobless Claims Rise by 21,000 in May

Source : Fars News

TEHRAN (FNA)- The number of unemployed people in Germany rose for the third consecutive month in May, while the country's jobless rate held steady, official data showed.

In a report, Germany's Federal Statistics Office said the number of unemployed people seasonally adjusted 21,000 in May, significantly above expectations for an increase of 5 Investing.com reported Wednesday.

Jobless claims for April were revised to an increase of 6,000 people from a previously re 4,000.

The report showed that Germany's unemployment rate held steady at 6.9% this month expectations.

Following the release of the data, the euro trimmed gains to trade little changed agains dollar, with EUR/USD adding 0.03% to trade at 1.2859.

Meanwhile, European stock markets held on to losses. The EURO STOXX 50 fell 0.9%, Fr declined 0.9%, Germany's DAX dropped 0.9%, while London's FTSE 100 retreated 1.1%