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German jobless decline slows

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German jobless decline slows

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German unemployment fell in August though the rate of decline slowed.

Federal Labour Office chief Frank-Juergen Weise said: “The economic upswing is losing momentum,” but he added: “The job market’s generally good performance continued in August.”

The headline figure used in Germany that is not adjusted for seasonal factors actually rose by 5,000 but the numbers point to employers continuing to hire workers.

The seasonally adjusted data showed unemployment fell by 8,000 in Europe’s biggest economy, less than the 10,000 forecast by economists. The jobless rate was unchanged at seven percent down to 2.951 million.