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German Unemployment Dips to 18-Year Low in October
October 18, 2010
German unemployment fell slightly in October, dropping to its lowest level in 18 years as the impact of persistently strong growth in Europe’s top economy continued to filter through to the jobs market.
The number of jobless fell by 3,000 to a seasonally adjusted 3.153 million, figures from the Labor Office showed on Thursday, while the headline level dipped to 2.945 million, confirming figures announced a day earlier.
The headline reading fell below the 3 million mark — a key political threshold — for the first time since November 2008, to its lowest point since October 1992.
On an adjusted basis, the jobless rate held steady at 7.5 percent, while economists had forecast 7.4 percent.
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