Germany's Labor Market Remains Robust in September

Germany's Labor Market Remains Robust in September

Germany's Labor Market Remains Robust in September

The FINANCIAL -- Germany's labor market remained robust in September, despite a slight increase in jobless claims from August, the BA labor agency said on September 30, according to Nasdaq.

Jobless claims in September rose by 2,000, adjusted for seasonal effects, disappointing economists' forecasts of a monthly drop of 4,500. But the total number of unemployed people fell by 88,000 to 2.708 million in September and the adjusted jobless rate was stable at 6.4%, a record low.

"The favourable development in the labor market continued," said BA head Frank-Juergen Weise.

Despite September's slight setback, Germany's jobs market remains the strongest in the entire eurozone, bolstering consumer confidence in Europe's largest economy.