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Home >> Business
UPDATED: 08:17, March 01, 2006
German jobless rises in February
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Germany's jobless rate rose again this month following January's hike, according to figures released on Tuesday by the Federal Labor Agency.

The unemployment rate reached 12.2 percent during February, 0.1 of a percentage point higher than last month, the agency said.

The number of jobless people increased to 36,000 on a seasonally unadjusted basis in February, pushing the total number to 5.048 million in Germany -- higher than the politically sensitive five million mark for two months in a row.

In seasonally adjusted terms, a more important indicator of labor market trends, unemployment fell by 5,000 to 4.695 million.

Compared with the same month last year the number of people in work fell by 241,000 nationwide, the agency said.

The number of jobless people fell by 10,000 in seasonally adjusted terms in the west of Germany, while the figure in the east rose by 5,000.

The jobless rate edged up 0.1 of a percentage point in January after around 408,000 more people lost their jobs.

Federal Labor Agency chief Frank-Juergen Weise said the normal seasonal rise in joblessness did not alter the optimistic assessment of the current labor market situation.

Signs of improvement in employment continued to emerge and the number of job vacancies are growing, he said.

Source: Xinhua

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