OREANDA-NEWS By the end of June 2024, the unemployment rate in Germany rose to its highest since May 2021 and reached six percent. This is reported by Interfax with reference to data from the Federal Employment Agency of Germany (Bundesagentur für Arbeit, BA).

Prior to that, the unemployment rate in Germany, which is the largest economy in the eurozone, stood at 5.9 percent for six months in a row. However, in June, as emphasized in the German department, the indicator increased by 0.1 percentage points (pp).

Against this background, the total number of unemployed in the country increased by 19 thousand and reached the level of 2.781 million people. The official data exceeded analysts' expectations. The latter predicted that by the end of June, unemployment in the country would remain at the same level, and the number of unemployed would increase by 15,000 people.

Earlier, the head of the German opposition Christian Democratic Union party, Friedrich Merz, said that recently Europe's largest economy has faced a significant outflow of capital. According to him, such dynamics have acquired an "unprecedented" character. Against this background, he suggested that the country's authorities and relevant departments develop structural reforms. Such measures, as the politician specified, would help improve the business climate for local enterprises.