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Financial News: German Unemployment Declines In November

German Unemployment Declines In November

11/29/2019 - 04:55:00 (RTTNews)

(RTTNews) - German unemployment declined notably in November, data from the Federal Employment Agency showed Friday.

The number of people out of work declined by a seasonally adjusted 16,000 after rising 5,000 a month ago. Economists had forecast an increase of 6,000.

The unemployment rate held steady near a record low, at 5 percent in November, in line with expectations.

Federal Employment Agency head Detlef Scheele said "The current economic weakness is still noticeable in the labor market. "All in all, however, it remains robust."

Data released by Destatis, earlier on Friday, showed that the number of unemployed increased slightly by 0.8 percent to 1.34 million in October. The unemployment rate held steady at a adjusted 3.1 percent since May 2019.

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