German Jobless Rate Falls to Near 39-Year Low

Germany's seasonally adjusted harmonised unemployment inched lower to 3.2 percent in January 2019 from 3.3 percent in the previous month. It was the lowest jobless rate since April 1980, as the number of unemployed fell further while employment rose.

The number of unemployed people fell 0.7 percent from a month earlier to 1.41 million in January from 1.42 million in December, while employment increased 0.2 percent to 42.21 million from 42.13 million.

Compared with January 2018, unemployment dropped 7.8 percent from 1.53 million people and the number of employed rose 1.4 percent from 41.63 million.

Youth unemployment rate, measuring job-seekers under 25 years old, stood at 6 percent in January, unchanged from the previous month's 27-year low.

Separate data from the Labour Office showed that the seasonally adjusted number of unemployed fell by 21 thousand from a month earlier to 2.236 million in February, following a revised 4 thousand drop in January and compared to market consensus of a 5 thousand decline. The unemployment rate stood at 5 percent, unchanged from the previous month and the lowest since German reunification in 1990.

German Jobless Rate Falls to Near 39-Year Low

Destatis | Rida Husna |
3/1/2019 10:33:40 AM