Germany’s unemployment rate drops to record 20 year low

January 4, 2012


Germany’s unemployment rate drops to record low

By Rachel Rickard Straus
This is Money
German unemployment fell to a 20-year low in December, bucking the trend of growing levels of joblessness in the eurozone.
Unemployment fell to 6.8 per cent from 6.9 per cent in November, according to the German Federal Labour Agency.
The figure was seasonally adjusted to account for an unusually warm month, which is likely to have created a one-off boost to construction activity.
The number of people out of work fell 22,000 to 2.88 million in December and averaged at 2.976 million over the year, according to the agency.
This brings the number of employed people up to a new record of 41.04 million, with more than half a million jobs created last year, according to national statistics office Destatis.
Meanwhile Spain revealed the number of people claiming unemployment benefits stood at a 15-year high at the end of the year.
The jobless rate is currently 7.1 per cent, with 4.42 million people claiming the benefit.

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