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- German Unemployment Rate dropped to record low
German Unemployment Rate dropped to record low
The Unemployment Rate in Germany, Europe's powerhouse and biggest economy of the Eurozone, fell to a record low in in March, the German labour agency reported today. The rate dropped from a previous reading of 6.5% in February to 6.4% in March - Analyst expected an unchanged reading. The number of unemployed people shrank by 15,000 to 2.8 million, more than the predicted decline by 10,000. The data clearly shows the positive momentum in Germany. The countries' businesses profit from a low euro boosting exports and low energy costs.
Eurozone's Unemployment declined from 11.4% to 11.3%. Analyst expected the reading to be unchanged.
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