Germany’s unemployment continued to decline in September but at a slower pace as supply-side bottleneck weighed on the performance of the manufacturing sector, data published by the Federal Labor Agency showed on Thursday. <\/p>\n
The unemployment rate held steady at seasonally adjusted 5.5 percent in September. The expected rate was 5.4 percent. <\/p>\n
The number of unemployed decreased 30,000 in September from August, when it was down 53,000. Economists had forecast a decline of 33,000. <\/p>\n
The labor market continues to develop positively, Daniel Terzenbach of the Federal Labor Agency said. Unemployment and underemployment are falling sharply.<\/p>\n
Employment and the number of jobs are growing and are again above their respective pre-crisis levels, Terzenbach added. <\/p>\n
According to the calculations based on the labor force survey, the unemployment held steady at a seasonally adjusted 3.6 percent in August. <\/p>\n
The number of unemployed stood at 1.54 million, which was a decline of 17,000 people, or 1.1 percent from July. <\/p>\n
Earlier this month, the ifo Institute projected that the German jobless rate is set to fall to 5.1 percent in 2022 from 5.7 percent in 2021.<\/p>\n
Official data today showed that the unemployment rate in the euro area slid to 7.5 percent in August, in line with expectations, from 7.6 percent in July.<\/p>\n
The number of people out of work decreased 261,000 to 12.162 million in August. Compared to last year, unemployment was down 1.861 million. <\/p>\n
The youth unemployment rate in the currency bloc came in at 16.4 percent versus 16.7 percent in July. <\/p>\n