German Unemployment Falls a Fifth Month as Economy Grows
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German unemployment fell more than twice as much as forecast in April in a sign that Europe’s largest economy will continue to lead the recovery in the euro area.
The number of people out of work decreased for a fifth month, dropping a seasonally-adjusted 25,000 to 2.872 million, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 10,000, according to the median of 25 estimates in a Bloomberg News survey. The adjusted jobless rate was unchanged at 6.7 percent, the lowest level in two decades.