World Economy

German Joblessness Down

German Joblessness Down  German Joblessness Down

German joblessness fell for a fifth month in February in a sign that economic momentum will continue to be underpinned by household spending, CNBC reported. The number of people out of work declined by a seasonally adjusted 10,000 to 2.72 million, data from the Federal Labor Agency in Nuremberg showed on Tuesday. That matched the median estimate in a Bloomberg Survey of economists. The jobless rate was unchanged at 6.2%, the lowest level since German reunification. Bundesbank President Jens Weidmann said last month that the economy is “in good shape” with stimulus coming from lower energy prices and higher spending in response to the refugee crisis.