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More jobs for Germans

November 27, 2014

Lower growth forecasts for Europe's biggest economy haven't kept Germany's jobless figures from sinking. The latest data for November marked a return to employment levels not seen in three years.

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German workers
Image: imago/McPHOTO

The number of unemployed people in Germany fell more than expected in November to its lowest level in three years, the Nuremberg-based Federal Labor Agency (BA) reported Thursday.

It said there were 2.717 million people out of work in the country this month, the lowest level in three years and only marginally away from record-low jobless figures in the early 1990s.

The November figure meant 16,000 more people had a job as compared with the situation a month earlier, and the overall figure was down 89,000 year-on-year.

Robust labor market

"The number of jobless people dropped further in November, meaning the labor market developed positively despite only moderate growth in Germany," BA President Frank-Jürgen Weise said in a statement.

Weise mentioned that month-on-month, some 14,000 more people were employed in November, when adjusted for seasonal factors. Analysts had only penciled in a drop of 4,000 people.

The latest positive job figures came against the backdrop of leading economic think tanks predicting near-stagnation growth for Europe's powerhouse. But pundits admit that earlier talk of a looming recession has meanwhile turned out to unfounded.

hg/cjc (Reuters, dpa)