German unemployment grew more than predicted in July, according to Labor Office numbers released on Friday, as officials register Ukrainian refugees seeking work in Germany.
According to the Federal Labour Office, the number of unemployed individuals increased by 48,000 in seasonally adjusted figures to 2.463 million.
Reuters polled analysts, who projected a 15,000 gain on average.
The seasonally adjusted unemployment rate increased to 5.4 percent.
“Unemployment and underemployment rose more sharply in July than is usual for the time of year. This is owing, however, to the registration of Ukrainian refugees “said Daniel Terzenbach, the Labour Office’s regional director.
The labour market in general is stable, he added.