German Jobless Rate Holds Steady at Over 38-Year Low

Germany's seasonally adjusted harmonised unemployment was unchanged at an over 38-year low of 3.3 percent in December 2018, as the number of unemployed dropped further and employment rose slightly.

The number of unemployed people fell by 1.4 percent from a month earlier to 1.41 million in December, while employment edged up 0.1 percent to 42.06 million.

Compared with December 2017, unemployment dropped by 8.4 percent from 1.54 million people and the number of employed rose by 1 percent from 41.65 million.

Youth unemployment rate, measuring job-seekers under 25 years old, edged down to 6.0 percent in December, the lowest since February 1992, from 6.1 percent a month earlier.

Separate data from the Labour Office showed that the seasonally adjusted number of unemployed fell by 2 thousand from a month earlier to 2.26 million in January, following a revised 12 thousand drop in December and compared to market consensus of an 11 thousand decline. The unemployment rate stood at 5 percent in January, unchanged from the previous month and the lowest since German reunification in 1990.

German Jobless Rate Holds Steady at Over 38-Year Low

Destatis | Rida Husna |
1/31/2019 9:13:50 AM