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German jobless rate stays at 4.8% despite lackluster economy
Germany’s unemployment rate was static at 4.8% in November as the labor market remained robust despite the lackluster performance of Europe’s biggest economy.
The Federal Labor Agency said Friday some 2.18 million people were registered as unemployed, 24,000 fewer than the previous month and 6,000 fewer than a year earlier. The unadjusted jobless rate – the headline figure in Germany – was unchanged.
In seasonally adjusted terms, the unemployment rate was unchanged at 5%, where it has stood for several months.
The economy contracted slightly in the second quarter but returned to slight growth in the third quarter, averting a widely predicted recession.
Labor agency chief Detlef Scheele said that “the current economic weakness is still noticeable on the labor market, but all in all it continues to be robust.”