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7/29, 9:55 AM (Source: TeleTrader)
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German unemployment rate down to 5.7% in July

The unemployment rate in Germany came in at 5.7% in July, down 0.2% compared to the month before, data released by the country's Federal Employment Agency showed on Thursday. The figure was slightly better than the analysts' expectations.

Meanwhile, the number of unemployed German residents fell by a better-than-anticipated 91,000 from the previous month.

"Unemployment and underemployment have continued to fall sharply since the start of the summer break. Companies are increasingly looking to hire new staff," the agency's chairman, Detlef Scheele, commented.

Breaking the News / BU