German Jobless Rate Holds Steady at 38-Year Low


Germany's seasonally adjusted harmonised unemployment rate was unchanged at a near 38-year low of 3.4 percent in August 2018, as the number of unemployed fell further while employment was flat.

The number of unemployed people fell by 0.7 percent from a month earlier to 1.45 million in August, while employment was virtually unchanged at 41.58 million.

Compared with August 2017, unemployment dropped by 9.4 percent from 1.60 million people and the number of employed declined by 0.2 percent from 41.66 million.

Youth unemployment rate, measuring job-seekers between 15 and 25 years old, edged down to 6.2 percent in August from 6.3 percent in the previous month. It was the lowest rate since March 1992.

Separate data from the Labour Office showed the seasonally adjusted number of unemployed in Germany fell by 23 thousand from a month earlier to 2.30 million in September after an upwardly revised 10 thousand drop in August and above market consensus of a 9 thousand decline. The unemployment rate fell to 5.1 percent in September, the lowest since German reunification in 1990.

German Jobless Rate Holds Steady at 38-Year Low


Destatis | Rida | rida@tradingeconomics.com
9/28/2018 8:06:45 AM