Germany's Unemployment Rate Holds Steady In November

The unemployment rate in Germany held steady in November, in line with expectations, while on an annual basis the number of unemployed in Europe’s largest economy declined by 3.7 percent, the data released by the Federal Statistical Office showed on Tuesday.

According to the data, Germany’s seasonally-adjusted unemployment rate held steady at 5.2 percent in November, as expected, and, down from 5.4 percent recorded in the previous year. The number of unemployed was 2.2 million in November, which was a decline of 0.9 percent, from a month earlier, while on an annual basis the number of unemployed fell 3.9 percent in November.

In unadjusted terms, the jobless rate was 5 percent, down slightly from 5.1 percent in October. The total number of unemployed stood at 2.13 million, down by 4.1 percent, or 94,000 people, compared to the same period last year.

The number of people who were employed touched 42.2 million in November, up 0.6 percent or 245,000 people, compared to the same period last year. Meanwhile, on a month-on-month basis, the number of persons with jobs rose by 26,000 in November 2013, compared with the previous month.