Germany Jobless Rate Falls to New Low Since 1980


German seasonally adjusted harmonised unemployment rate went down to 3.7 percent in July of 2017 from 3.8 percent in the previous month. It is the lowest jobless rate since October of 1980. A year earlier, unemployment was higher at 4.2 percent.

Compared with the previous month, the number of unemployed persons fell 1.2 percent to 1.59 million from 1.61 million, while employment edged up 0.2 percent to 41.32 million people.

Compared with July 2016, unemployment dropped 11.7 percent from 1.8 million people while employment rose 0.6 percent from 41.09 million people.

Youth unemployment rate came in at 6.5 percent, down from 6.6 percent in June and 7 percent a year earlier. 

Separate data from the Labour Office showed the number of unemployed persons fell by 5 thousand to 2.532 million in August 2017. The adjusted unemployment rate was unchanged at 5.7 percent, the lowest level since German reunification in 1990.

Destatis | Joana Taborda | joana.taborda@tradingeconomics.com
8/31/2017 8:15:52 AM