German Unemployment Declines In October

German Unemployment Declines In October

Germany’s unemployment declined in October, the Federal Labor Agency reported Thursday.

The number of people out of work decreased 35,000 in October from the previous month, when it was down by 10,000. Economists had forecast a decline of 5,000.

The unemployment rate fell to 6.2 percent in October from 6.3 percent in September. The rate was forecast to remain stable at 6.3 percent.

Unemployment and underemployment fell sharply in October, Federal Employment Agency CEO Detlef Scheele said. However, there are clear traces of the first wave of the corona pandemic on the job market.

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