Germany’s Unemployment Rate Down to 5% in January

In January of 2014, German seasonally adjusted jobless rate fell to 5 percent from 5.1 percent in the previous month, figures published by the Federal Statistical Office showed. Youth unemployment fell slightly to 7.6 percent from 7.7 percent in December.

There were 2.36 million unemployed people in January of 2014, a decrease of 137,000, or 5.6 percent over a year earlier. Compared with December of 2013, the number of unemployed went up by 266,000, or 12.4 percent. Adjusted for seasonal and irregular effects, the number of unemployed stood at 2.14 million. 

In the first month of 2014, roughly 41.7 million persons resident in Germany were employed. Compared with January of 2013, this was an increase of 297,000 persons or 0.7 percent. The corresponding growth rate was 0.6 percent in the months October to December 2013.  

Compared with the previous month, the number of employed persons decreased by 367,000, or 0.9 percent for seasonal reasons. After seasonal adjustment, the relevant number increased by 44,000 in January 2014 (+0.1 percent). The unusually mild weather in January is likely to have contributed to this. 

Germany’s Unemployment Rate Down to 5% in January

Destatis | Joana Taborda |
2/27/2014 9:59:09 AM