German Jobless Rate Holds Steady at 39-Year Low

Germany's seasonally adjusted harmonised unemployment stood at 3.1 percent in May 2019, unchanged from a downwardly revised figure in the previous month. The jobless rate remained at its lowest level since March 1980, as the number of unemployed dropped further and employment grew slightly.

The number of unemployed people fell 0.7 percent to 1.35 million in May from 1.36 million in April, while employment edged up 0.1 percent to 42.21 million from 42.17 million.

Compared with May 2018, unemployed people dropped 8.8 percent from 1.48 million and the number of employed rose 1.3 percent from 41.65 million.

Youth unemployment rate, measuring job-seekers under 25 years old, inched lower to a fresh recod low of 5.1 percent in May from 5.2 percent in April.

Separate data from the Labour Office showed that the seasonally adjusted number of unemployed decreased by 1 thousand from a month earlier to 2.281 million in June 2019, following a 60 thousand rise in the previous month and compared to market expectations of 3 thousand fall. The unemployment rate was unchanged at 5.0 percent, remaining close to the lowest since German reunification in 1990.

German Jobless Rate Holds Steady at 39-Year Low

Destatis | Rida Husna |
7/1/2019 9:55:44 AM