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German jobless rate falls to new record low

BERLIN
2016-05-31 19:13

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Germany's jobless rate fell to a new record low level in May, official data showed on Tuesday, suggesting that the country's labour market remained stable and could continue to support a consumption-driven growth.

Adjusted for calendar and seasonal swings, the number of unemployed people in Germany declined by 11,000 to 2.695 million in May, said German Federal Labour Agency.

The adjusted jobless rate fell from 6.2 percent in the previous month to 6.1 percent in May, its lowest level since the country's reunification in 1990.

"The labor market in general continues to develop positively," said Frank-Juergen Weise, head of the labour agency, "Employment grew rapidly and the demand for labor increased significantly." Germany's jobless rate is among the lowest in the euro zone.

A stable labour market helps to drive the German growth as Europe's biggest economy is increasingly relying on demand from home.

A separate report from German federal statistics office on Tuesday showed that, measured by standards of International Labour Organization, Germany's unemployment remained unchanged at 4.2 percent in April when roughly 43.3 million persons were in employment.

By comparison, unemployment rate in the euro zone remained unchanged at 10.2 percent in April.

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