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German unemployment falls to 14-year low

Food

Germany’s unemployment rate fell to the lowest level in more than 14 years in November thanks to the expanding economy, official figures released on Thursday showed.

The seasonally adjusted jobless rate dropped to 8.6% in November, the lowest level since April 1993, from 8.7% last month, the Federal Labor Agency in Nuremberg said on Thursday. The adjusted number of people out of work fell 53,000 to 3.60 million. The jobless rate, unadjusted for seasonal swings, fell to 8.1% in November from 8.2% last month. Despite continuing improvement on the job market, German consumer confidence has fallen to the lowest level in nearly two years as a result of concerns about, rising inflation triggered by surging oil prices and rising food costs, the German GfK market research institute said on Wednesday. Official figures showed that German consumer prices increased by an annualized rate of 3.0% in November, the highest level since February 1994. (people.com.cn)

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