Germany's Unemployment Rises by 27,000 in October

Economic recovery slows

Jobless rate remains low at 3%

The number of unemployed people in Germany increased by 27,000 in October, according to data released by the Federal Employment Agency (BA). This brings the total number of unemployed to 2.57 million, or 3% of the labor force. The increase in unemployment is a sign that the German economic recovery is slowing down. The country's GDP grew by just 0.1% in the third quarter, and the Bundesbank has warned that growth will slow further in the coming months.

The increase in unemployment is particularly worrying because it is concentrated in the manufacturing sector. The number of unemployed people in manufacturing rose by 12,000 in October, to a total of 328,000. This is the highest level of unemployment in manufacturing since 2013. The decline in manufacturing is due to a number of factors, including the global trade war, the slowdown in the Chinese economy, and the rise of automation.

Despite the increase in unemployment, the overall jobless rate in Germany remains low by international standards. The unemployment rate in the United States is 3.6%, and the unemployment rate in the eurozone is 7.5%. However, the increase in unemployment in Germany is a sign that the country's economy is facing headwinds.