German unemployment rate remains stable at 5.5% in January

German unemployment rate remains stable at 5.5% in January

BERLIN (Reuters) – Germanys unemployment rate remained stable in January, Labour Office figures showed on Tuesday.

The Federal Labour Office said the number of people out of work fell by 15,000 in seasonally adjusted terms. Analysts polled by Reuters had expected that figure to rise by 5,000.

The number of unemployed people in Germany fell to 2.5 million at the beginning of the year in seasonally adjusted terms.

The seasonally adjusted jobless rate stayed unchanged from the previous month at 5.5%.

“The labour market remained stable at the beginning of the year,” said Andrea Nahles, chairperson of the Federal Labour Office. However, she added that the effects of geopolitical and economic uncertainties are still evident.

The number of unemployed people in Germany rose to 2.6 million in January, in not seasonally adjusted terms. There were 162,000 unemployed people more in January than in December and 154,000 more than a year ago, according to the labour report.

(Reporting by Rachel More; writing by Maria Martinez, editing by Matthias Williams)

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