Germany unemployment falls 12K in March; jobless rate unchanged at 6.7 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Berlin, Germany (4E) – Unemployment in Germany declined more than expected in March, according to the Federal Labor Office report released Tuesday, with the jobless rate staying the same.

The jobless total fell by a seasonally adjusted 12,000 following February’s revised 15,000 from 14,000, while the unemployment rate in March was 6.7 percent after a revised 6.7 percent from an initial 6.8 percent reading in February, according to the agency.

Analysts expected the unemployment rate to remain unchanged at 6.8 percent while the number of unemployed people was predicted to fall by 10,000.

The total number of unemployed was 3.055 million, in unadjusted terms, compared with 3.138 million in February. The jobless rate dropped to 7.1 percent from 7.3 percent, the Labor office said.

New vacancies rose by 1,000 in March, unchanged from February. Payroll jobs, which is reported with a one-month lag, climbed by 48,000 in February after an upwardly revised 44,000 gain from a previously reported 40,000 in January.

In a separate report, the number of employed people in harmonized terms based on ILO reached 42.003 million in February, rising 45,000 on the month, according to Germany’s federal statistical agency’s report data Tuesday. The unemployment rate remained unchanged at 5.1 percent.

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