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Financial News: Germany Unemployment Rate Remains Stable In October

Germany Unemployment Rate Remains Stable In October

11/30/2021 - 02:19:00 (RTTNews)

(RTTNews) - Germany's unemployment rate remained unchanged in October, data released by Destatis showed on Tuesday.

The jobless rate held steady at seasonally adjusted 3.3 percent in October, according to calculations based on the labor force survey. The number of unemployed totaled 1.40 million, which was a decline of 17,700 or 1.2 percent from the previous month.

On an unadjusted basis, unemployment fell by 305,000 or 18.9 percent from the last year to 1.31 million.

Data showed that the number of persons in employment rose by 122,000 or +0.3 percent on September 2021. This month-on-month increase was higher than the average recorded for October of the three pre-crisis years 2017 to 2019.

The Federal Labor Agency is scheduled to issue unemployment figures for November today. The unemployment rate is forecast to fall marginally to 5.3 percent from 5.4 percent in October.

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