German Jobless Rate Edges Down to 4.2%


German seasonally adjusted harmonised jobless rate came in at 4.2 percent in July 2016 compared to an upwardly revised 4.3 percent in June and 4.6 percent a year earlier. It was its lowest reading since February 1981, as the level of unemployment was virtually unchanged while employment rose slightly.

Compared with the previous month, the number of unemployed persons was unchanged at 1.80 million in July, while employment rose slightly to 40.93 million people from 40.91 million in June.

Compared with July of 2015, unemployment dropped 5.7 percent from 1.93 million people while employment rose 2.3 percent from 40.00 million people.

Youth unemployment rate was recorded at 7.2 percent, down from 7.3 percent in June but higher than 7.1 percent a year earlier.

Separate data from the Labour Office showed the number of unemployed persons fell by 7 thousand in August 2016. The unemployment rate was steady 6.1 percent.

German Jobless Rate Edges Down to 4.2%


Destatis | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/31/2016 9:16:11 AM