Germany: Unemployed rate remains constant at 5% as predicted

In April, the unemployment rate in Germany remained unchanged at 5%.

May 03, 2022 - 03:27 PM 275 views

Germany: Unemployed rate remains constant at 5% as predicted

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© Germany: Unemployed rate remains constant at 5% as predicted

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Key Points

  • In April, the unemployment rate in Germany remained unchanged at 5%.
  • In the early European session, the EUR/USD pair held on to a moderate gain of above 1.0500.

 On Tuesday, data published by Germany’s Federal Labor Office showed that, "In April, the unemployment rate (seasonally adjusted) remains at 5%, meeting the current market expectations."

Furthermore, the publication revealed that the number of unemployed youths decreased from 2.287 million to 13,000 in comparison with the analysts' estimated decrease of 15,000.

The Market Reaction

Following the release of the unemployment rate report, the EUR/USD pair has continued to trade higher, with the pair last seen at 1.0523, up 0.2% in a day.

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