Jobless Rate Drop in Germany

Jobless Rate Drop in GermanyIn November, there was a drop noted in the rate of unemployment in Germany. Official data reveals that the labour market is continuing to waver off the weak growth.

Though the unemployment rate in Germany has struck a record low level yet concern of slower inflation still continues to be a factor for worry as it may give rise to a deflation.

On Thursday, the Federal Labour Office said, that the number of people who registered themselves as unemployed fell in November to a seasonally-adjusted 14,000. This was quite a positive feedback as compared to the analysts expectations which forecasted a mere 1,000 for the month.

According to the calculations of the agency, the rate of unemployment, which measures the total jobless numbers against the entire working population remained firm at 6.6 per cent in terms of a seasonally adjusted rate.

Last month's jobless rate for the largest economy of Europe was revised slightly downwards from 6.7 per cent. In unadjusted terms, which are seen according to the raw data, the total numbers of jobless dropped by 15,900 to
2.717 million. However the jobless rate remained unmoved at 6.3 per cent.

The Labour office said, "The labour market continued to develop favourably, independent of the economy."