German unemployment lowest since 1990

The number of jobless people in Europe’s powerhouse has reached a new low, fresh data has shown.

Germany’s labor market experienced its traditional autumn increase in employment in both adjusted and unadjusted terms.

The number of unemployed people in Germany dropped below the 2.4-million mark in October, the lowest figure logged since German unification in 1990.

The Nuremberg-based Federal Employment Agency (BA) said Thursday the number of people registered as jobless stood at 2.389 million last month.

That’s 60,000 fewer than in September and 151,000 fewer than in October of last year, the agency reported in citing unadjusted figures.

The jobless rate dropped to 5.4 percent in the month under review, down from 5.5 percent in September.

“The domestic labour market continues to be in good shape,” BA President Detlef Scheele said in a statement, mentioning that 32.4 million people were in regular employment across Germany, that’s 746,000 more than a year ago.

Scheele added that demand for workers was increasing again, with 780,000 vacancies reported to the agency recently, 88,000 more than a year ago.