German Unemployment Unexpectedly Drops Most in Six Months
This article is for subscribers only.
German unemployment unexpectedly declined in October, dropping the most in six months in a sign of companies’ confidence in the underlying strength of Europe’s largest economy.
The number of people out of work declined a seasonally adjusted 22,000 to 2.887 million in October, the Nuremberg-based Federal Labor Agency said today. Economists forecast an increase of 4,000, according to the median of 29 estimates in a Bloomberg News survey. The adjusted jobless rate was unchanged at 6.7 percent, the lowest level in more than two decades.