Pursuits
German August Unemployment Falls as Hiring Resisted Slump
This article is for subscribers only.
German unemployment fell in August for a 26th straight month as hiring in Europe’s biggest economy held up in the face of a global market rout and the euro-area’s debt crisis.
The number of people out of work fell a seasonally adjusted 8,000 to 2.95 million, the Nuremberg-based Federal Labor Agency said today. Economists forecast a drop of 10,000, according to the median of 31 estimates in a Bloomberg News survey. The jobless rate held at 7 percent, the lowest since records for a reunified Germany began in 1991.