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German unemployment stays at record low

dpa logodpa 1/03/2017

Germany's unemployment rate remained unchanged at 5.9 per cent.

Germany's unemployment rate held at a record low in February, adding to signs that Europe's biggest economy has entered the new year on a solid footing, according to data released on Wednesday.

Monthly jobless queues in the nation contracted for the fifth consecutive month in February, declining by a more-than-forecast seasonally adjusted 14,000 to 2.592 million, the Federal Labour Agency said.

The jobless rate remained unchanged in February at 5.9 per cent - its lowest level since German unification in 1990.

Analysts had expected the number out of work to drop by 10,000 in February. "The labour market continues to develop positively," said labour agency chief Frank-Juergen Weise in releasing the data.

In seasonally unadjusted terms, unemployment in February edged down by 15,000 to 2.762 million, resulting in the unadjusted jobless rate holding steady at 6.3 per cent this month, the labour agency said.

The February unadjusted figure was 149,000 less than a year ago, the agency said.

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