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German jobless rate falls further


German jobless rate falls further


Germany’s jobless rate has fallen to its lowest since the reunification of East and West as unemployment dropped for a fifth consecutive month in March.

Just 6.7 percent of the workforce is without a job according to official figures, adjusted for seasonal factors such as weather.

That is in contrast to other eurozone countries, and will likely lead to higher wages boosting consumption in Europe’s largest economy.

The unadjusted rate — which is the headline figure used in Germany — fell to 7.2 percent from February’s 7.4 percent.

The data is good news for German Finance Minister Wolfgang Schaeuble whose budget plans are based on strong tax revenues.

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