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Financial News: Germany Jobless Rate Falls Slightly In July

Germany Jobless Rate Falls Slightly In July

08/31/2021 - 03:09:00 (RTTNews)

(RTTNews) - Germany's jobless rate dropped marginally in July, data from Destatis revealed on Tuesday.

The jobless rate fell to a seasonally adjusted 3.6 percent in July from 3.7 percent in June.

The number of unemployed came in at 1.56 million, which was a decline of 19,000 or 1.2 percent on June, the labor force survey revealed.

On an unadjusted basis, the unemployment rate held steady at 3.7 percent in July.

Without seasonal adjustment, the number of persons in employment rose by 121,000, or +0.3 percent in July from the previous month. This month-on-month increase was much higher than the average recorded for July of the three pre-crisis years 2017 to 2019, Destatis reported.

The Federal Labor Agency is scheduled to issue monthly unemployment data for August at 3.55 am ET. The unemployment rate is forecast to drop marginally to 5.6 percent from 5.7 percent in July.

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