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28.10.2021

The number of unemployed in Germany fell more than forecast in October

Reuters reports that data from the Labour Office showed that German unemployment fell more than expected in October, showing that companies in Europe's largest economy were firmly on a post-pandemic hiring spree.

The number of people out of work fell by 39,000 in seasonally-adjusted terms to 2.466 million. Economists had expected a 20,000 decrease. The seasonally-adjusted jobless rate dropped to 5.4%.

"Despite the improvement, the numbers remain significantly lower that before the pandemic and we are facing big challenges," said Federal Labour Agency chief Detlef Scheele.

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