AIRLINK 79.60 Increased By ▲ 1.21 (1.54%)
BOP 5.29 Decreased By ▼ -0.05 (-0.94%)
CNERGY 4.37 Increased By ▲ 0.04 (0.92%)
DFML 33.19 Increased By ▲ 2.32 (7.52%)
DGKC 78.00 Decreased By ▼ -0.51 (-0.65%)
FCCL 20.43 Decreased By ▼ -0.15 (-0.73%)
FFBL 32.41 Increased By ▲ 0.11 (0.34%)
FFL 10.33 Increased By ▲ 0.11 (1.08%)
GGL 10.40 Increased By ▲ 0.11 (1.07%)
HBL 118.19 Decreased By ▼ -0.31 (-0.26%)
HUBC 135.50 Increased By ▲ 0.40 (0.3%)
HUMNL 6.85 Decreased By ▼ -0.02 (-0.29%)
KEL 4.61 Increased By ▲ 0.44 (10.55%)
KOSM 4.82 Increased By ▲ 0.09 (1.9%)
MLCF 38.50 Decreased By ▼ -0.17 (-0.44%)
OGDC 134.20 Decreased By ▼ -0.65 (-0.48%)
PAEL 23.58 Increased By ▲ 0.18 (0.77%)
PIAA 26.89 Increased By ▲ 0.25 (0.94%)
PIBTL 7.01 Decreased By ▼ -0.01 (-0.14%)
PPL 113.20 Decreased By ▼ -0.25 (-0.22%)
PRL 27.94 Increased By ▲ 0.21 (0.76%)
PTC 14.86 Increased By ▲ 0.26 (1.78%)
SEARL 57.85 Increased By ▲ 1.35 (2.39%)
SNGP 67.40 Increased By ▲ 1.10 (1.66%)
SSGC 11.20 Increased By ▲ 0.26 (2.38%)
TELE 9.32 Increased By ▲ 0.17 (1.86%)
TPLP 11.74 Increased By ▲ 0.07 (0.6%)
TRG 73.10 Increased By ▲ 1.67 (2.34%)
UNITY 24.85 Increased By ▲ 0.34 (1.39%)
WTL 1.41 Increased By ▲ 0.08 (6.02%)
BR100 7,530 Increased By 37.6 (0.5%)
BR30 24,715 Increased By 156.5 (0.64%)
KSE100 72,381 Increased By 328.7 (0.46%)
KSE30 23,849 Increased By 41.3 (0.17%)

imageFRANKFURT: German unemployment fell to new lows in November as the recovery in Europe's biggest economy remains on track and no fallout is yet evident from the migrant crisis, data showed on Tuesday.

The jobless rate is now at the lowest level since west and east Germany reunited in 1990 after the fall of the Berlin Wall the previous year, the Federal Labour Office said in a statement.

Even the ongoing scandal at Volkswagen has not made a dent in the labour market's recovery, analysts said.

The unemployment rate -- which measures the jobless total against the working population as a whole -- declined to 6.3 percent in November from 6.4 percent in October.

In numerical terms, the number of people registered as unemployed in Germany declined by a seasonally-adjusted 13,000 to 2.772 million, the Federal Labour Office said.

That was more than expected, as analysts had been pencilling in a decline of around 5,000.

In raw, or unadjusted, terms, the jobless total decreased by 16,000 to 2.633 million and the unemployment rate was unchanged at 6.0 percent, the office noted.

The German economy grew by 0.3 percent in the third quarter, continuing on from the "solid trend" seen in the first six months of this year, the office said.

Consumer demand and government spending were the main driving forces behind growth.

"The labour market remains in good shape and is continuing to develop favourably," the labour office said.

Economists welcomed the new decline in unemployment.

"Fears that the Volkswagen scandal could have negative consequences for the labour market have again proved groundless," said BayernLB economist Stefan Kipar.

The auto giant, one of the biggest employers in the north German state of Lower Saxony, is embroiled in a global pollution-cheating scandal that some observers suggest could hurt the German economy as a whole.

"The German labour is looking very robust," said Postbank economist Heinrich Bayer.

Neither was there any evidence just yet that the huge influx of refugees into Germany was pushing up the jobless rate, analysts said.

But that could change in the coming months as migrants looking for work initially sign on the dole, they cautioned.

"Those migrants arriving here must first find a job fitting their qualifications," said BayernLB's Kipar.

"Overall, labour market conditions remain healthier in Germany than in most other countries in Europe," said IHS Global Insight analyst Timo Klein.

Copyright AFP (Agence France-Presse), 2015

Comments

Comments are closed.