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.