German Unemployment Rate Falls to 2-Decade Low in July


In July, Germany's adjusted unemployment rate fell 0.1 pp to 5.3 percent, its lowest level in more than two decades. The adjusted number of unemployed fell by 40 thousand people to 2.26 million. Youth unemployment decreased to 7.7 percent.

In July, the non-adjusted number of unemployed was 2.28 million, a decrease of 130,000 or -5.4 percent on July 2012. Compared with June, the number of unemployed decreased -1.7 percent. A total of 41.8 million persons resident in Germany were in employment. Compared with July 2012, this was an increase of 220,000 persons or 0.5 percent. 

The number of persons in employment in the month of July was up by 13,000 people on June. The average increase over the last five years was 8,000. After seasonal adjustment, that is, after the elimination of the usual seasonal fluctuations, the number of persons in employment rose by 24,000 (+0.1 percent) in July 2013 compared with the previous month.

German Unemployment Rate Falls to 2-Decade Low in July


Destatis | Nuno Fontes | nuno@tradingeconomics.com
8/29/2013 9:12:07 AM