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Germany: Unemployment Rate Rises Surprisingly in February

Adel 2 March, 2021 4:42 pm Market Update

The unemployment rate in Germany rose during the month of February for the first time since last June, according to data released today, Tuesday, which dashed expectations of a decrease in the number of measures aimed at curbing the Coronavirus.

For its part, the Labor Office said that the number of people without work rose by 9,000 on a seasonally adjusted basis, to reach 2.752 million. A Reuters poll had forecast a decrease of 13,000.

It is worth noting that Germany has been closed since November and measures were tightened in mid-December, as it is fighting the second wave of the virus. Chancellor Angela Merkel said that the new strain of “Covid-19” risks the third wave of infections.

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