German jobless total falls less than expected in January

FILE PHOTO: The logo German National Agency for Employment (Agentur fur Arbeit) is seen at the joint German-French job center office in Kehl, Germany
FILE PHOTO: The logo German National Agency for Employment (Agentur fur Arbeit) is seen at the joint German-French job center office in Kehl, Germany, on the French-German border near Strasbourg, November 13, 2014. REUTERS/Vincent Kessler/File Photo

January 31, 2019

BERLIN (Reuters) – Germany’s jobless total fell by less than expected in January, data showed on Thursday, and the unemployment rate remained at a record low.

The figures reflected seasonal factors like slower hiring in the construction sector over the winter months as well as weaker job growth in both the services and the manufacturing sectors.

The Labour Agency said demand for new hires among German companies remained solid. This should support a consumption-led growth cycle in Europe’s largest economy, which is experiencing a slowdown linked to trade frictions and concerns about Britain’s expected departure from the European Union.

The Labour Office said the seasonally adjusted jobless total fell by 2,000 to 2.263 million. That compared with the forecast for a drop of 10,000.

The unemployment rate remained at 5 percent, the lowest since German reunification in 1990.

(Reporting by Joseph Nasr and Riham Alkoussa; Editing by Michelle Martin)

Source link