Germany: Labour market in good shape - ING
|Carsten Brzeski, chief economist at ING, notes that the German unemployment dropped by 71,600 in March (not seasonally adjusted), bringing the total number of unemployed down to 2.301 million, the lowest March reading since reunification.
Key Quotes
“In seasonally-adjusted terms, unemployment dropped by 7,000, bringing the seasonally-adjusted unemployment rate down to 4.9%. The number of vacancies increased for the second month in a row and stood at 797,500, from 757,700 in January. For those looking for some signs of weakness, this year’s March improvement was the weakest March improvement since 2016.”
“For the time being, the labour market remains a perfect insurance against any recession fears. With unemployment numbers at record lows, the number of vacancies and employment at record highs, low inflation and higher nominal wages, private consumption should be a growth driver this year, unless global uncertainties start denting consumer sentiment and lead to precautionary savings.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.