German unemployment keeps going up

November 29, 2012
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Euro Crunch
November 29, 2012
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German unemployment rises(Eurostat / Google)

German unemployment rose again for the eighth straight month in a row, according to German government figures out today. Nearly three million people are now without jobs, up a seasonally adjusted 5,000 new claims. German firms postponing hiring and investment decisions amid the ongoing euro zone crisis were to blame.

The German economy expanded by 0.2% in the third quarter, but some experts see growth falling off in the fourth quarter as export demand declines. The unemployment figures were generally expected.

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