German Unemployment Fell to a Record Low

Germany’s seasonally-adjusted unemployment rate fell to a record low of 6.7 percent in March, despite the ongoing debt crisis in euro zone and the weak economic growth in the country. The unemployment rate in February was 6.8 percent.

In March, seasonally-adjusted unemployment numbers fell by 18,000, following a drop of 3,000 in February.

According to the report from the German Federal Labor Agency, the unemployment rate of 6.7 percent is the lowest since comparable records began in 1998.

Germany’s economy contracted by 0.2% in the fourth quarter of 2011, and in the first quarter of 2012 the country’s growth is likely to have moved sideways, according to the report from the Bundesbank.

Source: Wall Street Journal

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