German Jobless Rate Falls to Near 38-Year Low


German's seasonally adjusted harmonised unemployment rate edged down to 3.4 percent in June 2018 from an upwardly revised 3.5 percent in the previous month. It was the lowest jobless rate since July 1980.

The number of unemployed people was unchanged at 1.49 million, while employment rose slightly to 41.69 million in June from 41.67 million in the previous month.

Compared with June 2017, unemployment dropped by 8 percent from 1.62 million people and employment rose by 0.4 percent from 41.51 million.

Youth unemployment rate was unchanged at 6.2 percent in July, the lowest since April 1992. 

Separate data from the Labour Office showed the seasonally adjusted number of unemployed in Germany fell by 6 thousand from the previous month to 2.338 million in July 2018, compared with market consensus of a 10 thousand drop. The unemployment rate came in at 5.2 percent in July, unchanged from the previous month and the lowest since German reunification in 1990.

German Jobless Rate Falls to Near 38-Year Low


Destatis | Rida | rida@tradingeconomics.com
7/31/2018 8:08:55 AM