German Economy Shows Continued Strength As Unemployment Continues To Drop

By Stephen Fuchs on Email @StephenWFuchs

Euro Coin Germany

The Federal Labor Agency in Nuremberg released the latest unemployment numbers for Germany on Thursday, and with joblessness falling by 5,000 during the month of October, versus the expected drop of only 4,000, the country is showing no sign of a slowdown despite weaker numbers across the rest of Europe.

“The favorable development in the labor market continues,” Germany’s labor agency president Frank-Juergen Weise said upon the release of Thursday’s numbers. “Robust growth in employment is uninterrupted. Labor demand has also increased again.”

With the latest drop, Germany’s unemployment rate stayed at 6.4 percent, the lowest it has been since Germany reunified in 1990, and is quite a bit lower than the average rate of 11 percent in the European Union.

 

Source: Bloomberg Business
Photo: Dennis Skley [Flickr]

Stephen Fuchs
Stephen founded German Pulse and LGBT Germany out of a passion to introduce Americans to a Germany that goes beyond beer and polka (although with enough beer he has been known to polka it up a bit). He's a coffee addict, lover of wine and good times, a hit in the kitchen and editor of TV commercials. You can follow him on Twitter (@StephenWFuchs) to find out a lot more.
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