German Jobless Data Confirm Labor Market Stability

Forex News

German labor market remains strong, with a record high level of employment. The Federal Labour Office said Germany’s headline unemployment rate slipped to 4.9% in October from 5% in September, with 2.204 million people registered as unemployed. That’s 53.000 fewer than the previous month and 185.000 fewer than a year earlier. In seasonally adjusted terms, the unemployment rate was unchanged at 5.1%.

The seasonally adjusted jobless total fell by 11.000 to 2.292 million in September, slightly below the predicted drop of 12.000.

Separate data released by the Federal Statistics Office showed, that seasonally adjusted employment as measured by the International Labour Organisation climbed by 557.000 on the year to a record of 45.0 million in September.