German Unemployment Edges Down to 5.3% in May


In May, German adjusted unemployment rate decreased 0.1 percentage points to 5.3 percent, the lowest rate since October of 1981. The number of unemployed decreased by 106,000 persons compared with the previous year. Youth unemployment, registered at 7.6 percent, was unchanged from the previous month and down from 8.1 percent in May of 2012.

The number of unemployed amounted to 2.25 million and was down by 106,000 persons or 4.7 percent on May of 2012. Compared with April of 2013, the number of unemployed decreased by 24,000 people or 0.9 percent. When adjusted for seasonal and irregular effects, the number of unemployed amounted to 2.27 million.

A total of 41.8 million persons in Germany were in employment according to provisional calculations of the Federal Statistical Office. Compared with May 2012, this was an increase of 253,000 persons in employment or 0.6 percent, following year-on-year growth rates of 0.7 percent in March and April of 2013.

The number of persons in employment in May of 2013 was up by 97,000 (+0.2 percent) on April 2013, which was due to the usual spring upturn. After seasonal adjustment, that is, after the elimination of the usual seasonal fluctuations, the relevant number increased slightly by 10,000 in May 2013 compared with the previous month.

German Unemployment Edges Down to 5.3% in May


Destatis | Nuno Fontes | nuno@tradingeconomics.com
6/27/2013 8:51:30 AM