German jobless rate hits record low in October

by Radyo La Verdad | November 3, 2016 (Thursday) | 1000
Photo credit: Reuters
Photo credit: Reuters

German unemployment dropped more than expected in October, pushing down the jobless rate in Europe’s biggest economy.

The labor office reports the seasonally adjusted jobless total fell by 13,000, compared to forecasts for a drop of just 1,000.

The adjusted unemployment rate edged down 0.1 percentage point to 6 percent, the lowest level since German reunification in 1990.

The surprising labour market data comes after a survey showed German manufacturing growth reached an almost three-year high in October, as Asian and U.S. demand rose.

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