World Economy
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German Labor Market Improves

German Labor Market ImprovesGerman Labor Market Improves

Official figures show unemployment in Germany dropped to 6% in May, underlining the strength of the labor market in Europe’s largest economy, AP reported. The Federal Labor Agency said Tuesday that the unadjusted jobless rate was down from 6.3% in April, with 2.66 million people registered as unemployed. Unemployment in the states of the former West Germany was 5.5%. The jobless rate was 8.4% in the formerly communist east. When adjusted for seasonal factors, the rate dropped to 6.1% from 6.2% the previous month. Analysts had expected the rate to remain unchanged.

 

Financialtribune.com