Germany’s Unemployment Rate Falls to Record Low in May

Germany’s unemployment rate fell to a record low in May, while the jobless rate across the eurozone fell to 10.2% in April.

The unadjusted rate in Germany declined to 6% from 6.3% in April, the Federal Labour Office said.

That was the lowest level since German reunification in 1990.

Differences remain between the formerly divided country: it was just 5.5% in what was West Germany, but 8.4% in the once-Communist east.
The fall reflected the strength of the labour market in Europe’s largest economy.

The eurozone jobless rate was down from 11% in April last year and the lowest figure for the 19 countries using the euro since August 2011, Eurostat said.

Across the 28 countries in the European Union, unemployment fell to 8.7% in April, down from 8.8% in March and 9.6% in the same month last year.
That was the lowest rate for the EU since April 2009.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza