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German unemployment rate hits new record low

239 Days ago

Berlin: Continuing a positive trend and supporting private consumption, Germany's unemployment rate fell to a new record low level in January, said official data on Tuesday.

The number of people registered as unemployed at German Federal Labour Agency fell by 20,000 in January to 2.73 million. The adjusted jobless rate declined from 6.3 percent in December 2015 to 6.2 percent, a new low record since the country's reunification, Xinhua news agency reported.

"The good performance of the labour market has continued at the year beginning," said Frank-Juergen Weise, head of the labour agency.

An envy of most European countries, Germany's employment stood at record high in 2015. Roughly 43 million people had jobs.

The German economy grew by 1.7 percent last year. A similar pace was expected in 2016. Private consumption was considered as the main driving force.

Economists said the influx of refugees could push the unemployment to a higher level since it takes time for the newcomers to integrate into German labour market. (IANS)

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