German Unemployment Declines Sharply In July

Germany's unemployment declined more than expected in July, reports said citing data published by the Federal Labor Agency on Thursday.

The unemployment rate fell to 5.7 percent in July from about 5.9 percent in June. The rate was forecast to fall marginally to 5.8 percent.

The number of people out of work decreased 91,000 from June, while economists' had forecast a moderate fall of 28,000.

Data released by Destatis earlier in the day showed that the jobless rate remained unchanged at an adjusted 3.7 percent in June.

After adjusting seasonal and irregular effects like sharp falls due to weather conditions or strike, the number of unemployed stood at 1.58 million, which was a slight decline of 1.2 percent on May.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT