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German Unemployment at a record low of 5.5%

Wednesday, Jan 03 2018
German Unemployment at a record low of 5.5%

Germany's unemployment rate held steady at a record low, bolstering optimism over the health of the euro zone's largest economy, official data showed on Wednesday. In a report, Germany's Federal Statistics Office said its jobless rate clocked in at a seasonally adjusted 5.5% in December. That beat expectations for it to hold steady at the initial reading of 5.6% in November.

However, the prior month’s data was also revised lower to 5.5% Additionally, the number of unemployed people fell by a seasonally adjusted 29,000 in December from a month earlier, compared to forecasts for a drop of 12,000. Jobless claims fell by 20,000 in November which was revised from an initial decline of 18,000.

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