German Unemployment Rate Falls in October


German seasonally adjusted jobless rate decreased to 4.9 percent in October of 2014 from 5 percent in the previous month, provisional figures from the Federal Statistics Office showed. Employment rose 0.1 percent and unemployment fell 1 percent.

On a seasonally adjusted basis, the number of unemployed fell to 2.06 million persons in October from 2.08 million in the previous month and employment rose by 33,000 to 39.78 million. Compared with the same month last year, employment grew 0.7 percent while unemployment dropped 3.7 percent. 

Youth unemployment rate held steady at 7.7 percent in October of 2014.

On an unadjusted basis, the number of employed persons grew by 110,000, up from last five year’s average (96,000 people) and due to the autumn upturn. Unemployment went down 2 percent to 1.98 million persons. 

German Unemployment Rate Falls in October


Destatis | Joana Taborda | joana.taborda@tradingeconomics.com
11/27/2014 9:18:13 AM