World

Unemployment in Germany falls to record low in May

BERLIN
2017-06-01 02:32

Already collect

German Federal Employment Agency (BA) reported on Wednesday that the unemployment rate has continued to fall in May by 0.2 percentage points to 5.6 percent.

The number of the employed dropped by 71,000 to 2.498 million. It is the lowest figure in May since 1991.

The figures showed that there is currently 166,000 fewer unemployed citizens than a year ago. The number of employees saw a strong growth and demand for work force remained at a high level.

BA Chairman Detlef Scheele stated "Thanks to a strong economic environment, the labor market is developing very favourably."

Even seasonally adjusted unemployment rate also saw a decline from April to May, with 9,000 fewer unemployed men and women reported.

More precise analysis revealed that unemployment went down by 5,000 in the west of the country and by 4,000 in the east.

Germany has been experience positive economic results for several years, thanks to its strong labour force and export/import market as well as its position as the biggest economic power in the EU and its close political ties and trade deals.

Add comments

Latest comments

Latest News
News Most Viewed