German unemployment unchanged at 7%: statistics

31st August 2011, Comments 0 comments

German unemployment was unchanged in August at 7.0 percent of the workforce, according to seasonally-adjusted figures released on Wednesday by the federal labour office.

The office added that the number of people seeking work had decreased by 8,000 this month, whereas economists polled by Dow Jones Newswires had expected a slightly bigger decline of 10,000.

"The German labour market remains strong but it would be naïve to think that the labour market could be totally immune against the debt crisis and the economic slowdown," ING senior economist Carsten Brzeski noted.

"With employment at historical highs, favourable demographics and an economy that is slowing but not contracting, the labour market should remain growth-supportive," he added.

© 2011 AFP

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