German unemployment drops more than expected in December

Unemployment in Germany fell more sharply than expected in December, according to the latest figures from the Federal Labor Agency in Nuremberg.

The number of unemployed people fell a seasonally-adjusted 14,000 last month, which was far better than the 8,000 drop economists had pencilled in.

The unemployment rate, meanwhile, was unchanged at 6.3%, in line with consensus and at its lowest since German reunification.

“The German labour market is going from strength to strength,” said Pantheon Macroeconomics.

“The unemployment rate remained at an all-time low, and the recent two months’ fall in jobless claims is the biggest since March.”