Germany Unemployment Rate Falls to 4.9%


German seasonally adjusted jobless rate decreased for the second straight month to 4.9 percent in July from a revised 5 percent in June, provisional figures from the Federal Statistics Office showed. Employment increased 0.1 percent, the same rate recorded in June.

Results of the labour force survey show that 2.03 million people were unemployed in July 2014. Compared with July 2013, their number decreased by 215,000, or 9.4 percent. Compared with June 2014, the number of unemployed fell by 93,000 or 4.2 percent. Adjusted for seasonal and irregular effects, the number of unemployed stood at 2.09 million. 

In July 2014, roughly 42.6 million persons resident in Germany were in employment according to provisional figures. Compared with July 2013, this was an increase of 344,000 persons or 0.8 percent. Hence, the year-on-year rate of growth was as high as in the months from April to June. In July 2014, roughly 2.0 million people were unemployed, 215,000 fewer than a year earlier. 

According to provisional results of the employment accounts, the number of persons in employment increased by 51,000, or 0.1 percent, from June 2014 to July 2014. However, on an average of the last five years, the number of persons in employment in July had been down by 5,400 from the previous month. After seasonal adjustment, the number of persons in employment increased by 46,000, or 0.1 percent, in July 2014 compared with the previous month. 

Germany Unemployment Rate Falls to 4.9%


Destatis | Joana Taborda | joana.taborda@tradingeconomics.com
8/28/2014 9:21:15 AM