German Unemployment Falls in Sign Spending Set to Remain Strong
- Jobless rate remains at 6.1%, lowest since reunification
- Number of people out of work declines more than estimated
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German unemployment continued its decline in August, signaling that consumption driven by a strong labor market may cushion the blow to Europe’s largest economy from Britain’s decision to leave the European Union.
The number of people out of work fell by a seasonally adjusted 7,000 to 2.675 million, data from the Federal Labor Agency in Nuremberg showed on Wednesday. Economists in a Bloomberg survey forecast a drop of 4,000. The jobless rate remained at a record low of 6.1 percent.