Germany April unemployment change 373.0k vs 74.5k expected

Latest data released by the Federal Employment Agency – 30 April 2020

  • Prior 1.0k
  • Unemployment rate 5.8% vs 5.2% expected
  • Prior 5.0%
That’s a blowout number as we see the total unemployment in the country rise to 2.64 million from 2.27 million on a seasonally adjusted basis.
The labour office notes that registrations for short-time work scheme are at a level never seen before, adding that demand from companies for new employees has ‘completely collapsed’.