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Unemployment picture still grim for Germany

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Unemployment picture still grim for Germany

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German unemployment ticked down again in November after falling for four months, but only because of government support for part-time jobs.

Retail sales bucked a declining trend and rose. However with deepening unemployment expected the outlook for consumption is bleak warn analysts. Unemployment is now just a shade under 3.25 million, and there is no dramatic job market turn expected for several quarters.