German Unemployment Falls as Nation Braces for General Elections
- Joblessness declined 5,000 in August vs estimated 6,000 drop
- Rate of people out of work remained at record low of 5.7%
Employees work on Volkswagen e-Golf electric automobiles on the assembly line inside the Volkswagen AG (VW) factory in Wolfsburg, Germany, on Friday, May 20, 2016. Volkswagen AG agreed to raise German workers' pay after labor leaders vowed that employees wont foot the multi-billion-euro bill to resolve its diesel-emissions scandal.
Photographer: Krisztian Bocsi/BloombergGerman unemployment extended its decline in August, underpinning a robust upswing in Europe’s largest economy less then four weeks before general elections.
The number of people out of work fell by a seasonally adjusted 5,000 to 2.532 million, data from the Federal Labor Agency in Nuremberg showed on Thursday. The median estimate in a Bloomberg survey was for a drop of 6,000. The jobless rate remained at 5.7 percent, the lowest level since the country’s reunification.