The FINANCIAL — Joblessness in Europe’s largest economy decreased in August, official data showed on September 1, suggesting continued strength in Germany’s economy, according to Nasdaq.
In seasonally adjusted terms, the labor agency said that unemployment fell in August by 7,000, outperforming the unchanged expectation in a Wall Street Journal survey of analysts. That followed a rise in unemployment of 8,000 in July.
The seasonally adjusted unemployment rate remained steady at 6.4%, in line with analysts’ expectations in the survey.
Germany’s strong labor market has helped underpin the country’s domestic economy. Data released on August 31 showed retail sales rose 1.4% on the month in July, more than making up for June’s 1.0% decline.
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