German Jobless Claims Fall More Than Expected in December

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The FINANCIAL — German jobless claims fell more than expected in December and the unemployment rate remained at its lowest level in 24 years, cementing its position as the strongest labor market in the eurozone, according to Nasdaq.

The BA labor agency said on January 5 that jobless claims fell by 14,000 from the previous month, adjusted for seasonal effects, and the adjusted unemployment rate stayed at 6.3%, the lowest level since the beginning of the data series in January 1992. The fall in jobless claims was more than forecast in a poll of economists by The Wall Street Journal.

But most labor market experts expect a pick-up in joblessness this year because of a record influx of migrants. Unemployment among people fleeing war and persecution is rising, highlighting the difficulties the country is facing in integrating the thousands who are crossing its borders every day.

 

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