Arab Today, arab today german unemployment falls in december
Last Updated : GMT 15:35:40
Arab Today, arab today
Arab Today, arab today

German unemployment falls in December

Arab Today, arab today

Arab Today, arab today German unemployment falls in December

Berlin - XINHUA

German unemployment adjusted for seasonal factors fell in December 2013, with jobless rate remained close to a record low level, official data showed on Tuesday. Adjusted seasonally, the number of jobless Germans decreased by 15,000 in December, compared with the previous month, Nuremberg-based Federal Labour Agency (BA) said. Jobless rate remained unchanged at 6.9 percent, close to the lowest level since Germany's reunification two decades ago. For the whole year of 2013, 2.95 million people were registered as unemployed in Germany. Compared to 2012, 53,000 more people were out of work. Jobless rate in the Europe's largest economy increased slightly by 0.1 percent to 6.9 percent, remained among the lowest in European Union. Economists have attributed Germany's robust economy to its stable labor market which sets a foundation for a strong private consumption. Lacking demands from its European neighbors and outside EU, the traditionally export-oriented economy relied on domestic demands, especially private consumption for its growth. Market research institute GfK found in its recent survey that German consumers' morale reached the highest since 2007, their willingness to buy also hits a seven-year-high. Stable labor market, moderate inflation, as well as low interest rate were considered as main reasons. Partly driven by private consumption, German economy was expected to expand by 1.7 percent in 2014. A recovery of global economy as well as a rebound of investment within German territory were also expected to help boost German economy.

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