German Unemployment Falls in August

The number of unemployed people in Germany decreased for the second month in a row in August, indicating that the job market in Europe’s largest economy is recovering after it was hit by the Coronavirus crisis. Data revealed.

The Labor Office said the number of unemployed people adjusted for seasonal factors decreased by 9,000 to 2.915 million. The unemployment rate adjusted for seasonal factors remained unchanged at 6.4%. Analysts expected a steady reading for the number of unemployed and the unemployment rate.

The Labor Office said that the number of people working under a program of fewer working hours and wages, which continues to protect the labor market from the brunt of the Coronavirus pandemic, decreased to 5.36 million in June from 5.82 million in May.