German Unemployment Rate Holds Steady at 39-Year Low

Germany's seasonally adjusted harmonised jobless rate was unchanged for the third straight month at 3.1 percent in June 2019, the lowest since 1980, as the number of unemployed fell further while employment increased slightly.

The number of unemployed people dropped 1.5 percent to 1.34 million in June from 1.36 million in May, while employment edged 0.1 percent higher to 42.32 million from 42.29 million.

Compared with June 2018, unemployment dropped 8.8 percent from 1.47 million and the number of employed rose 1.5 percent from 41.70 million.

Youth unemployment rate, measuring job-seekers under 25 years old, was flat at 5.5 percent in June.

Separate data from the Labour Office showed that the seasonally adjusted number of unemployed increased by 1 thousand from a month earlier to 2.283 million in July 2019, after being unchanged in the previous month and compared to market expectations of 2 thousand rise. The unemployment rate was unchanged at 5.0 percent, remaining close to the lowest since German reunification in 1990.

German Unemployment Rate Holds Steady at 39-Year Low

Destatis | Rida Husna |
7/31/2019 10:25:28 AM