German Joblessness Falls to Record Low Despite Signs of Slowdown
- Number of people out of work down by 11,000 vs est. -10,000
- Unemployment rate dropped to record low of 5.2% in May
This article is for subscribers only.
German unemployment fell to a fresh record low as companies in Europe’s largest economy stepped up hiring to work through backlogs even amid signs of slowing growth.
The jobless rate dropped to 5.2 percent in May, the Federal Labor Agency in Nuremberg said on Wednesday. The number of people out of work fell by a seasonally adjusted 11,000 to 2.358 million, exceeding the decline of 10,000 predicted in a Bloomberg survey of economists.