German Jobless Rate Falls to Over 39-Year Low

Germany's seasonally adjusted harmonised unemployment rate edged lower to 3 percent in July 2019 from 3.1 percent in the previous month. This was the lowest jobless rate since February 1980, as the number of unemployed fell further while employment showed no growth.

The number of unemployed people dropped by 1.5 percent to 1.33 million in July from 1.35 million in June, while employment was virtually unchanged at 42.31 million.

Compared with July 2018, unemployment fell by 9.5 percent from 1.47 million and the number of employed rose by 1.4 percent from 41.74 million.

Youth unemployment rate, measuring job-seekers under 25 years old, was stable at 5.6 percent in July.

Separate data from the Labour Office showed that the seasonally adjusted number of unemployed increased by 4 thousand from a month earlier to 2.289 million in August 2019, in line with market expectations, after rising by 1 thousand in the previous month. The unemployment rate was unchanged at 5.0 percent, remaining close to the lowest since German reunification in 1990.

German Jobless Rate Falls to Over 39-Year Low

Destatis | Rida Husna |
8/29/2019 8:13:51 AM