German unemployment falls more than forecast

2nd July 2008, Comments 0 comments

German unemployment has a greater drop than expected, despite the current global economic situation

Berlin -- German unemployment fell more than forecast in June, the nation's labour agency said on Tuesday, with the jobless rate in Europe's biggest economy sliding to 7.8 percent from 7.9 percent in May.

The numbers out of work in Germany dropped by 38,000 to 3.27 million in seasonally adjusted terms, which reflects labour market trends. Economists had predicted a 15,000 fall.

Based on the more politically sensitive seasonally unadjusted terms, German unemployment fell in June, the data showed, with the numbers out of work dropping by 123,000 to 3.16 million.

This brought the seasonally unadjusted jobless rate down to 7.5 percent.

The jobless numbers in June were 528,000 fewer than in the same month last year, when the unemployment rate stood at 8.8 percent.


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