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Buoyant German labor market

April 30, 2014

The German labor market has seen a boost amid mild spring weather, seeing unemployment drop below a psychologically important threshold. Stable growth conditions have helped many people find a new job.

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Machine tool worker
Image: picture-alliance/dpa

The number of people unemployed in Europe's biggest economy fell below the three-million threshold for the first time this year in April, the Nuremberg-based Federal Employment Agency (BA) reported Wednesday.

It logged 2.943 million people out of work last month, the lowest figure recorded in any April in 22 years.

The agency said the overall jobless number dropped by 110,000 over March, and by 77,000 compared to last April.

Robust labor market

BA President Frank-Jürgen Weise said the unemployment rate now stood at 6.8 percent, down from 7.1 percent in the previous month.

"The labor market has shown a very healthy development in April," Weise said in a statement. "The main reason for this have been favorable growth conditions."

Record employment

The jobless number dropped by 25,000 in April in seasonally-adjusted terms, marking the fifth adjusted monthly dip in a row and by far beating expectations voiced by analysts in a Reuters poll.

hg / kpc (Reuters, dpa)