AIRLINK 74.35 Increased By ▲ 0.10 (0.13%)
BOP 5.10 Increased By ▲ 0.05 (0.99%)
CNERGY 4.57 Increased By ▲ 0.15 (3.39%)
DFML 37.48 Increased By ▲ 1.64 (4.58%)
DGKC 90.60 Increased By ▲ 2.60 (2.95%)
FCCL 22.42 Increased By ▲ 0.22 (0.99%)
FFBL 32.77 Increased By ▲ 0.05 (0.15%)
FFL 9.76 Decreased By ▼ -0.03 (-0.31%)
GGL 10.90 Increased By ▲ 0.10 (0.93%)
HBL 115.75 Decreased By ▼ -0.15 (-0.13%)
HUBC 136.70 Increased By ▲ 0.86 (0.63%)
HUMNL 10.03 Increased By ▲ 0.19 (1.93%)
KEL 4.63 Increased By ▲ 0.02 (0.43%)
KOSM 4.97 Increased By ▲ 0.31 (6.65%)
MLCF 40.19 Increased By ▲ 0.31 (0.78%)
OGDC 138.35 Increased By ▲ 0.45 (0.33%)
PAEL 27.23 Increased By ▲ 0.80 (3.03%)
PIAA 24.47 Decreased By ▼ -1.81 (-6.89%)
PIBTL 6.75 Decreased By ▼ -0.01 (-0.15%)
PPL 123.30 Increased By ▲ 0.40 (0.33%)
PRL 27.50 Increased By ▲ 0.81 (3.03%)
PTC 13.93 Decreased By ▼ -0.07 (-0.5%)
SEARL 59.55 Increased By ▲ 0.85 (1.45%)
SNGP 70.38 Decreased By ▼ -0.02 (-0.03%)
SSGC 10.57 Increased By ▲ 0.21 (2.03%)
TELE 8.59 Increased By ▲ 0.03 (0.35%)
TPLP 11.25 Decreased By ▼ -0.13 (-1.14%)
TRG 64.50 Increased By ▲ 0.27 (0.42%)
UNITY 26.60 Increased By ▲ 0.55 (2.11%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 7,869 Increased By 30.4 (0.39%)
BR30 25,604 Increased By 144.6 (0.57%)
KSE100 75,302 Increased By 370.8 (0.49%)
KSE30 24,222 Increased By 75.9 (0.31%)

imageBERLIN: German unemployment fell in January to the lowest level since the country reunited in 1990, official data showed Thursday.

The number of people registered as unemployed in Germany fell by a seasonally-adjusted 9,000 to 2.8 million in January, the Federal Labour Office said.

Analysts polled by Bloomberg News had forecast a still bigger monthly drop of around 12,000.

The unemployment rate -- which measures the jobless total against the working population as a whole -- slipped to 6.5 percent from 6.6 percent for December, the office said.

The jobless rate has never been lower since Germany reunited in 1990 after the fall of the Berlin Wall the previous year.

In raw or unadjusted terms, the jobless total actually grew, as is common in winter, to just over three million people in January, to stand at seven percent.

Christian Schulz, of Berenberg Bank, said the fourth consecutive monthly drop demonstrated the resilience of Germany's jobs market.

"The economic slowdown last summer, which Russia had triggered with its aggression against Ukraine in the spring, has not had any significant impact on German jobs growth.

"Nor has the introduction of the new national minimum wage on January 1, 2015," he added.

Johannes Gareis, economist at Natixis, said the "tightness" of the German labour market was good news for the economy.

"It backs household confidence and supports wage growth and thus private consumption," he said.

Economy Minister Sigmar Gabriel said Thursday he expected a "new record" in the number of people in employment this year.

A robust job market encourages consumer confidence which, data released on Wednesday showed, was at its highest since late 2001.

Copyright AFP (Agence France-Presse), 2015

Comments

Comments are closed.