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German Unemployment Drops to Record Low as Economy Powers Ahead

  • Joblessness fell by 23,000 in September vs. estimate of 5,000
  • Even amid the boom, mainstream politicians have lost support
City workers at the Taunusanlage S-Bahn underground railway station in Frankfurt, Germany.
Photographer: Alex Kraus/Bloomberg

German unemployment slid to a record low in September in a sign that Europe’s largest economy will continue to expand on the back of domestic spending.

The jobless rate dropped to 5.6 percent in September, down from 5.7 percent, according to data from the Federal Labor Agency in Nuremberg on Friday. The number of people out of work fell by a seasonally adjusted 23,000 to 2.506 million, beating the median estimate for a drop of 5,000 in a Bloomberg survey.