German Jobless Numbers Fall as Economy Booms

04 June 2007

NUREMBERG: Germany's unemployment figures have fallen to their lowest level reports the nation's Federal Labor Agency.

Initial data show unemployment down by 0.4 of a percentage point to 9.1% in May, the lowest level since October 2001 and the best figure for over five years, underscoring the nation's resurgent economy.

The overall jobless total declined by 161,000 to 3.806 million, the lowest number of benefit-claimers in Germany since November 2001.

Labor office chief Frank Weise commented: "The economic upturn in Germany is continuing apace and is helping to stimulate the labor market."

Weise believes the unadjusted jobless total could fall below 3.5m by the fall, with the annual average total for the whole of 2007 likely to come out at between 3.8m and 3.9m.

Data sourced from Deutsche Welle (Germany); additional content by WARC staff