German Jobless Rate Unchanged at Near 38-Year Low


German's seasonally adjusted harmonised unemployment rate stood at 3.4 percent in May of 2018, unchanged from the previous month's near 38-year low, as the number of unemployed declined further while employment showed no growth.

Compared with the previous month, the number of unemployed people declined by 0.7 percent to 1.48 million, while employment was virtually unchanged at 41.72 million.

Compared with May 2017, unemployment dropped by 9.8 percent from 1.64 million people and employment rose by 0.7 percent from 41.41 million.

Youth unemployment rate inched lower to 6.1 percent from 6.2 percent in the preceding month. 

Separate data from the Labour Office showed the number of unemployed fell by 15 thousand from the previous month to 2.342 million in June 2018, compared with market consensus of a 8 thousand drop. The unemployment rate came in at 5.2 percent in June, unchanged from the previous month and the lowest since German reunification in 1990.

German Jobless Rate Unchanged at Near 38-Year Low


Destatis l Rida | rida@tradingeconomics.com
6/29/2018 9:58:10 AM