German Unemployment Rate Steady at 4.2% in August


German seasonally adjusted harmonised jobless rate was recorded at 4.2 percent in August 2016, unchanged from the July rate and compared to 4.5 percent a year earlier. It stood at its lowest level since February 1981, as the level of unemployment was almost unchanged while employment rose slightly. Meanwhile, youth unemployment rate fell to 6.9 percent, its lowest level since October 1992.

Compared with the previous month, the number of unemployed persons was unchanged at 1.82 million in August, while employment rose by 0.1 percent to 41.14 million people from 41.08 million in July.

Compared with August 2015, unemployment dropped 4.7 percent from 1.91 million people while employment rose 2.7 percent from 40.05 million people.

Youth unemployment rate was recorded at 6.9 percent, its lowest level in nearly 24 years, down from 7 percent in July and 7.1 percent a year earlier.

Separate data from the Labour Office showed the number of unemployed persons rose by 1 thousand in September 2016. The unemployment rate was steady at 6.1 percent.

German Unemployment Rate Steady at 4.2% in August


Destatis | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/29/2016 8:16:13 AM