Latest data released by the Federal Employment Agency - 3 June 2020

  • Prior 373.0k; revised to 372.0k
  • Unemployment rate 6.3% vs 6.2% expected
  • Prior 5.8%

The jobless change in Germany came in higher-than-expected and at elevated levels, as the labour market takes a hit from the economic fallout from the virus outbreak.

The additional count in May brings the total unemployment to a four-year high of 2.875 million, and that is also seen as a relief as the government's short-time work and state wage support helped to prevent even more layoffs across the country.