German Jobless Rate Falls to Near 38-Year Low



Germany's seasonally adjusted harmonised unemployment rate fell to 3.4 percent in April 2018 from an upwardly revised 3.5 percent in the previous month. It is the lowest jobless rate since July 1980, as the number of unemployed declined further while employment was unchanged.

Compared with the previous month, the number of unemployed people declined by 1.3 percent to 1.47 million, while employment was virtually unchanged at 41.59 million.

Compared with April 2017, unemployment dropped by 10.9 percent from 1.65 million people and employment rose by 0.6 percent from 41.34 million.

Youth unemployment rate came in at 6 percent, the same as in the preceding  month. It remained the lowest jobless rate since February 1992.

Separate data from the Labour Office showed the number of unemployed fell by 11 thousand from the previous month to 2.358 million in May, compared with market consensus of a 10 thousand drop. The unemployment rate fell to 5.2 percent in May from 5.3 percent in April, hitting its lowest level since German reunification in 1990.

German Jobless Rate Falls to Near 38-Year Low


Rida | rida@tradingeconomics.com
5/30/2018 7:58:28 AM