German unemployment extended its decline in August, underpinning a robust upswing in Europe’s largest economy less then four weeks before general elections.The number of people out of work fell by a seasonally adjusted 5,000 to 2.532 million, data from the Federal Labor Agency in Nuremberg showed on Thursday. The median estimate in a Bloomberg survey was for a drop of 6,000. The jobless rate remained at 5.7 percent, the lowest level since the country’s reunification.“The labor market continues to develop favorably,” labor agency head Detlef Scheele said in a statement. “Strong employment growth continues and demand from companies for new employees continues to be high.”
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