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German unemployment falls more than expected in August

Xinhua, September 1, 2015 Adjust font size:

German unemployment fell more than expected in August after a temporary increase the previous month, keeping its jobless rate at a record low level, official data showed on Tuesday.

When adjusted for seasonal swings, the number of unemployed people fell by 7,000 to 2.79 million in August, data from Germany's Federal Employment Agency (BA) showed. Economists had only expected a decline of 4,000.

The jobless rate remained unchanged at 6.4 percent, the lowest level since the country's reunification 25 years ago.

"The labor market continues to develop favorably ... employment growth continues," said Frank-Juergen Weise, head of the labor agency.

A separate report from German federal statistics office Destatis on Tuesday showed that roughly 42.8 million people in Germany were in employment in July. In July, the country's jobless rate, as measured by the International Labour Organization (ILO), remained unchanged at 4.7 percent, among the lowest in the euro zone.

Germany's stable labor market was one of the key factors supporting the expansion of Europe's biggest economy. In the second quarter of 2015, the German economy grew by 0.4 percent, thanks to robust domestic demand and foreign trade. Endit