Germany’s unemployment rate fell from 5.4% in February down to 5.3% in March and hit its record low since the country’s reunion in January, reports the Federal Employment Agency of Germany, or BA.
Jobless claims dropped by 19,000 on the month, to 2.373 million. According to revised data, in February, the measure decreased by 23000, instead of previously expected 22000. Analysts expected a decline in average unemployment to 5.3% the reduction of jobless claims by 15000.
The global trade growth and the increase of domestic demand allowed German ccompanies to extend their businesses and enlarge their stuff.
In March the number of jobless claims was about 17000 less in the western part of the county, and 2000 less in the eastern one. In the meanwhile, the number of German new jobs increased by 2000 on the month, while in January, their amount didn’t change.
Next week there will be released the data on unemployment rate in the eurozone: as it is expected, the rate is 8.5% down, at its lowest level for over nine years.