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
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza