Dax continues to rise as German joblessness climbs

The Dax in Frankfurt has begun the day's trading (November 29th) on a positive footing, despite the fact Germany's joblessness problem appears to be getting worse.

Once considered almost immune to the effects of the eurozone debt crisis, the region's most powerful economy has suffered with rising unemployment this month, as the bloc's financial woes curb investment and economic expansion, Bloomberg reports.

The number of Germans out of work increased to a seasonally-adjusted 5,000 to 2.9 million, according to official data from the Federal Labour Agency in Nuremberg.

Unemployment in Germany rose for the first time in three years in September, while the nation expanded by only 0.2 per cent in the third quarter of 2012, with recent reports indicating its growth may grind to a halt in the final three-month period of the year as export demand dwindles.

At 09:55 GMT, the German Dax rose by 0.8 per cent to an index value of 7402.2 points – a climb of 58.8 points.

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