German unemployment increased by 22,900, bringing the unemployment figure to 2.908 million, the highest December level since 2010. According to the just-released data, seasonally adjusted unemployment increased by 3,000, leaving the unemployment rate unchanged at 6.3%. Over the last four years, German unemployment has increased by some 500,000 people. This gradual worsening reflects textbook economics: with the economy effectively stagnating for more than five years and industry facing severe structural challenges, a deterioration in the labour market was inevitable. Things will get worse before they could get better ... (full story)