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Financial News: German Unemployment Rate Remains Stable In December

German Unemployment Rate Remains Stable In December

01/30/2020 - 02:17:00 (RTTNews)

(RTTNews) - Germany's unemployment rate remained unchanged in December, the labor force survey from Destatis showed Thursday.

The jobless rate held steady at a seasonally adjusted 3.2 percent in December. In the same period last year, the unemployment rate was 3.3 percent.

On an unadjusted basis, the unemployment rate rose marginally to 3.2 percent from 3.1 percent a month ago.

Nearly 1.40 million people were unemployed in December, which was an increase of 78,000 people compared with the same month a year earlier.

At the same time, employment decreased 145,000 or 0.3 percent in December. The monthly decline was stronger than the relevant average of the past five years.

The Federal Employment Agency is slated to publish Germany's unemployment data later today. The number of people out of work is forecast to rise 5,000 in January after increasing 8,000 in December.

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