Unemployment increases in Germany

Unemployment increases in Germany

Steelorbis previously reported that unemployment in Germany increased incredibly in May 2003. The situation has not been recovered in the following months. In July the number of the unemployed increased 94'500, compared with June and reached to 4'352 million. According to the notice released by Federal Labor Agency, located in Nürnberg the number of unemployed in Germany increased by 305'000 in July over the same month last year. Officials state that an expected recovery in the area of employment has not occured due to stagnation in finance sector. However, it is also stated that the positive effects of reform acts are gradually increasing.