German Unemployment Rate Steady At Over 36-Year Low


German seasonally adjusted harmonised unemployment rate came in at 3.9 percent in May 2017, unchanged from the previous month's reading and below 4.2 percent in the same month a year ago. The jobless rate remained at its lowest level since December 1980, as the number of unemployed fell 0.6 percent from the previous month while the number of employed was unchanged.

Compared with the previous month, the number of unemployed persons fell 0.6 percent to 1.66 million in May from 1.67 million in the previous month, while employment was almost unchanged at 41.56 million people.

Compared with May 2016, unemployment dropped 7.8 percent from 1.80 million people while employment rose 1.3 percent from 41.04 million people.

Youth unemployment rate came in at 6.7 percent, the same as in April and down from 7.1 percent a year earlier.

Separate data from the Labour Office showed the number of unemployed persons rose by 7 thousand to 2.547 million in June 2017. The adjusted unemployment rate was unchanged at 5.7 percent, the lowest level since German reunification in 1990.

Destatis | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/30/2017 7:57:53 AM