German Jobless Rate Unchanged at Near 38-Year Low



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

The number of unemployed people fell by 0.7 percent from a month earlier to 1.47 million in July, while employment was virtually unchanged at 41.68 million.

Compared with July 2017, unemployment dropped by 9.3 percent from 1.62 million people and employment rose by 0.2 percent from 41.60 million.

Youth unemployment rate, measuring job-seekers between 15 and 25 years old, was unchanged at 6.1 percent in July, remaining at the lowest level since March 1992.

Separate data from the Labour Office showed the seasonally adjusted number of unemployed in Germany fell by 8 thousand from a month earlier to 2.33 million in August after a 6 thousand drop in July and in line with market consensus. The unemployment rate came in at 5.2 percent in August, unchanged from the previous month and the lowest since German reunification in 1990.

German Jobless Rate Unchanged at Near 38-Year Low


Destatis | Rida | rida@tradingeconomics.com
8/30/2018 8:01:07 AM