Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

German unemployment rate falls to new record low

Published 05/31/2017, 04:02 AM
Updated 05/31/2017, 04:02 AM
© Reuters.  German jobless rate unexpectedly drops, marking new record low

© Reuters. German jobless rate unexpectedly drops, marking new record low

Investing.com – Germany's unemployment rate fell to a fresh all-time low in May, while the number of unemployed people fell for the eighth month in a row, boosting optimism over the health of the euro zone's largest economy, official data showed on Wednesday.

In a report, Germany's Federal Statistics Office said its jobless rate fell to a seasonally adjusted 5.7% in May, beating expectations for it to remain stable at 5.8%.

Additionally, the number of unemployed people fell by a seasonally adjusted 9,000 from a month earlier, compared to forecasts for a drop of 15,000. Jobless claims fell by 15,000 in the previous month.

Immediately following the report, EUR/USD was trading at 1.1182 compared to 1.1183 ahead of the release, while EUR/GBP was at 0.8733, compared to 0.8731 earlier.

Meanwhile, European stock markets continued to show mixed trade. Germany's DAX gained 0.11%, the benchmark Euro Stoxx 50 rose 0.15%, France’s CAC 40 dropped 0.09%, while London’s FTSE 100 traded up 0.25%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.