German unemployment claims surge

German unemployment

German unemployment data released on Thursday shows us that the number of jobless people in Germany surged unexpectedly in March.

EU-CyprusAccording to the figures released by Germany’s Federal Statistics Office, the amount of jobless people rose 13,000 in March, a significant deviation from the expected decline of 4,000.

In spite of the increase in unemployment claims, the overall German unemployment rate stayed at 6.9%, as expected.

Cyprus crisis

The banks of Cyprus reopened Thursday after nearly two weeks of closed doors. Depositors now have access to their money, but only under the strict regulations that international bailout lenders have provided. With fear of depositors taking their money and running, the government has limited them on how they can handle their funds.

U.S. unemployment

U.S. unemployment claims figures were released at 357K Thursday, 17K more than expected. These are the ugliest figures since late February, overall the sentiment of the employment momentum in the U.S. will likely not be affected by this figure.

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