German Jobless Rate Drops to New 37-Year Low


German seasonally adjusted harmonised unemployment rate fell to 3.6 percent in August 2017 from 3.7 percent in the previous month. It was the lowest jobless rate since September 1980, as the number of unemployed declined further. A year earlier, unemployment was higher at 4.2 percent.

Compared with the previous month, the number of unemployed persons fell 1.3 percent to 1.57 million from 1.59 million, while employment edged up 0.2 percent to 41.51 million people from 41.43 million.

Compared with August 2016, unemployment dropped 11.8 percent from 1.78 million people while employment rose 0.9 percent from 41.13 million people.

Youth unemployment rate came in at 6.4 percent, unchanged from the previous month and compared with 7 percent a year earlier. 

Separate data from the Labour Office showed the number of unemployed persons fell by 23 thousand to 2.506 million in September 2017. The adjusted unemployment rate was declined to 5.6 percent, the lowest level since German reunification in 1990.

Destatis | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/29/2017 8:12:07 AM