JOBLESS RATE RISES: Unemployment in Germany rose to 6.8 percent in July as a typical seasonal increase was reinforced by a gradual slowing in the labor market in Europe's biggest economy .
THE DETAILS: The Federal Labor Agency data indicated Tuesday that the unadjusted jobless rate rose from 6.6 percent in June. The number of people registered as unemployed was up 67,000 compared with the previous month at 2.876 million, though it was 63,000 lower than in July last year.
THE OUTLOOK: Labor agency chief Frank-Juergen Weise blamed the increase largely on seasonal factors. Unemployment typically climbs during the summer break as those out of school register as jobless and temporary contracts expire. But he said there are "indications of a weaker development" on the so-far impressively buoyant labor market.
Source: http://news.yahoo.com/news-summary-german-jobless-rate-july-205430634--finance.html
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