German jobless claims rise by 4,000 in April

Investing.com – The number of unemployed people in Germany rose for the second consecutive month in April, while the country’s jobless rate held steady, official data showed on Tuesday.

In a report, Germany’s Federal Statistics Office said the number of unemployed people rose by a seasonally adjusted 4,000 in April, above expectations for an increase of 2,000.

Jobless claims for March were revised to an increase of 12,000 people from a previously reported gain of 13,000.

The report showed that Germany’s unemployment rate held steady at 6.9% in April. Analysts’ had expected the jobless rate to fall to 6.8% this month.

Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.18% to trade at 1.3075.

Meanwhile, European stock markets held on to gains. The EURO STOXX 50 rose 0.1%, France’s CAC 40 added 0.1%, Germany’s DAX advanced 0.7%, while London’s FTSE 100 tacked on 0.2%.

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