BERLIN- The number of people out of work in Germany rose in February at a slower rate than expected, data showed on Friday, but the federal labor office warned that economic malaise was still putting pressure on the job market.
The office said the number of people unemployed increased by 5,000, in seasonally adjusted terms, to 2.89 million. Analysts polled by Reuters had expected that figure to rise by 15,000.
The seasonally adjusted job rate remained unchanged from the previous month at 6.2 percent, in line with a forecast of analysts polled by Reuters.
“The economic weakness remains visible on the labor market in February,” said the labor office’s Daniel Terzenbach.
Europe’s largest economy contracted for the past two years and will stagnate at best in 2025 as its vast manufacturing sector is in recession, households are saving up cash instead of consuming and the government is spending far less than its relatively low debt levels would allow.
