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German unemployment at a record low

Tuesday, Feb 02 2016
Germany’s unemployment rate unexpectedly fell to a record low in January, in a sign that economic sentiment in Europe’s largest economy is withstanding the tumult in global markets. The jobless rate fell to 6.2%, the lowest level since German reunification, from 6.3%, data from the Federal Labor Agency in Nuremberg showed on Tuesday. 
 The number of people out of work declined by a seasonally adjusted 20,000 to 2.73 million. Economists predicted a drop of 8,000. “The good development of the job market has continued at the beginning of the year,” Frank-Juergen Weise, president of the labor agency, said in a statement. 
 
The number of unemployed people in Spain rose for the first time in three months in January, renewing concerns over the health of the euro zone’s fourth largest economy, official data showed on Tuesday. In a report, Spain’s Employment Ministry said the number of unemployed people increased by a seasonally adjusted 57,200 last month, below expectations for a gain of 71,200. The number of unemployed people declined by 55,800 in December.
 
Euro is currently being traded around 1.0920 area. Pair is likely to find support around 1.0850 handle and resistance above 1.0950 level. There will be no major data releases in the rest of the session.
More in this category: « RBA left interest rates unchanged UK Construction PMI fell more than expected »

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