Germany’s jobless rate rises in July

Amid economic meltdown in the eurozone, official figures show that the unemployment rate in Germany rose to 6.8 percent in July.

According to AFP quoting a statement released by the Federal Labor Agency on Wednesday, the number of jobless people in Europe’s biggest economy reached a total of 2.914 million in June, up 0.2 percent from a month ago.
Last month, the International Monetary Fund (IMF) halved its 2013 economic growth forecast for Germany to 0.3 percent. In April, it said the economic growth for 2013 would be 0.6 percent.
On Wednesday, the Eurostat data agency reported that the overall unemployment rate in the eurozone stayed at a record high of 12.1 percent in June for the fourth consecutive month.
The agency published new jobless data for the eurozone, which has seen its unemployment rate increase constantly since April 2011.
The 12.1 percentage translates into more than 19 million Europeans without a job in the eurozone.
On July 16, the Organization for Economic Cooperation and Development (OECD) said that the eurozone unemployment rate would continue to increase until it reaches a new record high of 12.3 percent by the end of 2014.
Europe plunged into financial crisis in early 2008.