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German  Job Market  Weaker
World Economy

German Job Market Weaker

Despite a further decline in German unemployment in March, Europe’s biggest economy created fewer jobs than normal for the month because the routine spring upswing is proving weaker than in previous years, DW reported. As German companies added 66,000 new jobs to their payrolls in March, the country’s unemployment figure dropped to 2.84 million, according to data released by the German Labor Agency on Thursday.  Compared with the same month a year ago, about 87,000 fewer Germans were officially registered as unemployed, slightly driving down the overall jobless rate by 0.1% to 6.5%. Labor Agency chief Frank-Jurgen Weise said in a statement that the German jobs market “continues to develop positively” even though figures adjusted for seasonal and calendar variations didn’t change. The adjusted unemployment rate remained at the February level of 6.2%, he added. Even though the German Labor Agency described labor market developments as “a good start into the year” in which growth was likely to “exceed 0.3%” in the first quarter due to a mild winter, the agency expected job creation to “flatten out” in the course of the year.

 

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