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Sharp fall in German jobless

Sharp fall in German jobless
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Germany’s unemployment rate fell to its lowest level in more than 18 years in September – 7.5 percent of the working population.

The latest Federal Labour Office figures – adjusted for seasonal factors – show the number of Germans out of work was down by 40,000 from August to just under 3.15 million.

The firm job market appears to be lifting consumer morale and domestic demand in Europe’s largest economy.

On an unadjusted basis, which is the headline figure more commonly used in Germany, the number of jobless fell by 156,800 to 3.031 million.

The unadjusted unemployment rate dropped to 7.2 per cent from 7.6 per cent; that was its 15th consecutive monthly decline.