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German jobless rate holds at historic low

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Berlin: German unemployment held at a historic low of 5.7 per cent in August, in the last set of jobs data before the country goes to the polls next month.


Monthly jobless queues in Europe’s biggest economy contracted for the tenth consecutive month in August, dropping by 5,000 to 2.532 million in seasonally adjusted terms after a downwardly revised fall of 8,000 in July, the Federal Labour Agency said.


“The labour market continues to develop positively,” said labour agency chief Detlef Scheele.


The healthy state of the jobs market is likely to help Chancellor Angela Merkel as she campaigns for a fourth term in the September 24 national election. — dpa


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