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German unemployment falls to record low

dpa logodpa 31/01/2017

Germany's unemployment rate fell to a record low of 5.9 per cent in January.

Germany's unemployment rate fell to a record low of 5.9 per cent in January after Europe's biggest economy powered into the new year, according to data released.

Monthly jobless queues in the nation declined for the fourth consecutive month in January, declining by a seasonally adjusted 26,000 in January to 2.6 million, the Federal Labour Agency said.

Analysts had expected the jobless rate to hold steady at the December level of six per cent.

"The labour market has had a good start to the new year," said labour agency chief Frank-Juergen Weise.

At 5.9 per cent, the jobless rate is at its lowest level since German unification in 1990.

However, in seasonally unadjusted terms unemployment in January jumped by 209,000 to 2.77 million, resulting in the unadjusted jobless rate edging up 0.5 percentage points to 6.3 per cent.

Still, the January unadjusted figure was 143,000 less than a year ago.

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