Gold prices slip lower; consolidating after recent gains
Investing.com -- The unemployment rate in Germany, Europe’s largest economy, inched up to 6.2% in January, according to data released by the Federal Employment Agency on Friday. This represents a slight increase from the 6.1% recorded in December.
The rise in unemployment comes amid recent layoffs in the manufacturing sector. The increased layoffs reflect the economic challenges that the new government may face following the upcoming elections next month.
The data also showed a decrease in registered job vacancies. In January, there were approximately 632,000 job vacancies, a decrease of around 66,000 from the same period last year.
Additionally, jobless claims increased slightly in January. The Federal Employment Agency reported an increase of 11,000 jobless claims, slightly more than the 10,000 reported in December. The rise in unemployment rate and jobless claims suggests a slight slowdown in the job market at the start of the year.
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