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German unemployment falls to record low of 6.4% in March

Published 03/31/2015, 03:58 AM
Updated 03/31/2015, 03:58 AM
© Reuters. German unemployment falls to 6.4% in March

Investing.com - Germany’s unemployment fell to an all-time low in March, fuelling optimism over the strength of the euro zone's largest economy, official data showed on Tuesday.

In a report, Germany's Federal Statistics Office said that Germany’s unemployment rate declined to 6.4% in March from 6.5% in February. Analysts had expected the jobless rate to hold steady at 6.5% this month.

The report showed that the number of unemployed people in Germany fell by a seasonally adjusted 15,000 this month, compared to expectations for a drop of 12,000. Jobless claims decreased by 20,000 in February.

EUR/USD was trading at 1.0750 from around 1.0758 ahead of the release of the data, while EUR/GBP was at 0.7280 from 0.7287 earlier.

Meanwhile, European stock markets remained mostly higher. Germany's DAX ticked up 0.1%, the EURO STOXX 50 added 0.2%, France’s CAC 40 rose 0.25%, while London’s FTSE 100 advanced 0.1%.

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