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Employment grows faster than expected

Latest update : 2008-02-28

In February, unadjusted unemployment fell from 8.7% to 8.6% (adjusted from 8.1 to 8.0). This decrease exceeded economist's expectations.

German unemployment fell further in February on sustained business activity and because the winter remained mild, figures from the national employment agency showed on Thursday.
   
The unadjusted unemployment rate, which serves as a reference for public debate, edged down to 8.6 percent from 8.7 percent in January.
   
A total of 3.617 million people were recorded as looking for work, 42,000 fewer than one month earlier.
   
"Business demand for labour remained at a very high level," agency president Frank Weise said in a statement.
   
The improvement was also seen in seasonally adjusted figures that economists say are a better measure of the labour market.
   
There, the number of unemployed diminished by 75,000 people, exceeding a market forecast for a drop of 50,000

Date created : 2008-02-28

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