the republic logo

German unemployment dips again in October as labor market gains steam

bug
Share/Save/Bookmark

BERLIN — Germany's unemployment rate fell to 6.3 percent in October as the labor market in Europe's biggest economy continued to gain steam.

The Federal Statistical Office said Thursday 2.733 million people were jobless in October, 75,000 fewer than in September, when the unemployment rate was 6.5 percent.

Adjusted for seasonal trends, the jobless rate stood at 6.7 percent for the eighth consecutive month.

Germany's economy has been slowing, and business and consumer confidence has slid on concerns over the turmoil in Ukraine and elsewhere.

Nonetheless, ING economist Carsten Brzeski says indications are the labor market should remain solid, supporting private consumption.

But while the new figures are "clearly good news for the economy," he says low unemployment means politicians will be less likely to support short-term stimulus or investment initiatives.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.