Record low rate of unemployment in Germany

Angela Merkel GermanyGerman Chancellor Angela Merkel. (AP Photo/Markus Schreiber)

Record low number of unemployed in united Germany

Germany could once again record the lowest rate of unemployment ever, shows official figures.

 

From April to May, unemployment decreased by 0.1 percentage points. Thus, it ended at 5.7 per cent, while it was 5.8 per cent in March and April.

 This is the lowest level since the reunification between East and West Germany in 1990.

Construction industry

 The figures, which are in line with analysts’ expectations, testify that the German economy is still performing very well.

 “The demand for work remains at a very high level,” says the head of the German Labor Directorate, Detlef Scheele.

 In particular, the construction industry has contributed to the low unemployment rate, as low rate of interest in the European Central Bank helps to invest more in real estate.

 

© NTB Scanpix / Norway Today

 

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