German Jobless Rate Falls to Over 38-Year Low

Germany's seasonally adjusted harmonised unemployment rate edged down to 3.3 percent in October 2018 from 3.4 percent in the previous month. It was the lowest jobless rate since June 1980, as the number of unemployed fell further while employment was little-changed.

The number of unemployed people fell by 0.7 percent from a month earlier to 1.44 million in October, while employment edged up 0.1 percent to 41.65 million.

Compared with October 2017, unemployment dropped by 8.3 percent from 1.57 million people and the number of employed declined by 0.1 percent from 41.69 million.

Youth unemployment rate, measuring job-seekers under 25 years old, was unchanged at 6.2 percent in October, staying at the lowest figure since April 1992.

Separate data from the Labour Office showed the seasonally adjusted number of unemployed fell by 16 thousand from a month earlier to 2.28 million in November, following a revised 12 thousand drop in October and above market consensus of a 10 thousand decline. The unemployment rate fell to 5 percent in November, the lowest since German reunification in 1990.

German Jobless Rate Falls to Over 38-Year Low

Destatis | Rida |
11/29/2018 9:27:02 AM