German Jobless Rate Down

Germany’s unemployment rate has dipped below 6% as the labor market in Europe’s largest economy strengthens further in what is an election year, AP reported. The Federal Labor Agency said Wednesday that the unemployment rate in April fell to 5.8% from 6% the previous month, with about 94,000 fewer people registered as jobless. In figures adjusted for seasonal variations the rate was also 5.8%, unchanged from the previous month. ING economist Carsten Brzeski said survey indicators suggest that the positive trend will continue. “The labor market will remain an important growth driver for the entire economy.”