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German Unemployment Falls for 11th Month Amid Labor Shortages

  • Joblessness falls 18,000 vs. estimated decline of 20,000
  • Willingness to take on new workers has taken a knock, Ifo says

German joblessness fell for an 11th month as companies struggled to meet demand amid shortages of components and labor. 

Unemployment in Europe’s biggest economy declined by 18,000 in March, keeping the jobless rate at 5%. Economists had estimated a reduction of 20,000.