German February ILO unemployment rose to 7.4% from 7.3% in January. This was in line with our forecast and developments in the national rate that month. The focus is on the release of national unemployment data for March shortly before 8GMT, which is expected to show a renewed rise in the seasonally adjusted jobless total of 30K (median 50K), after 40K in February. This should bring the jobless rate up to 8.0% from 7.9%. Bundesbank president Weber warned yesterday that companies seem to be hoarding labor and that the labor market could face a nasty shock if growth turns out to the weaker for a more prolonged time than currently expected.