The number of unemployed in Germany has declined furr: 2017 re were less unemployed in December 158,000 than year before. The average unemployment rate decreased by 0.4 points to 5.7 percent. This is lowest level since reunification. The figures were shared by Federal Employment Agency.
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“The labour market has developed 2017 very well,” explained head of authority, Detlef Scheele. This is fourth fall in number of unemployment figures in a row. The labour market has benefited “not least from a broad-scale economic upturn”.
The German economy has grown eight years in a row. The growth was driven by rising consumer spending, more exports, a construction boom and higher investments. According to experts, rising demand for manpower could last up to at least 2019. According to forecast of Munich Ifo Institute, number of unemployed should be reduced to around 2.2 million. Last year, an average of 2,533,000 women and men were registered without a job.
The positive trend also continued in December. Under calculation of seasonal fluctuations, number of unemployed decreased by 29,000 in last month of year. At same time, demand for manpower increased. In December, 761,000 vacancies were reported to federal agency, 103,000 more than a year ago.
