|German jobless numbers ease, sans seasonal factors
The German economy remains surprisingly resilient to the euro zone debt crisis, with unemployment falling again this month, official data showed.
Unemployment gained sharply in January, jumping to 7.4 percent in raw or unadjusted terms from 6.7 percent in December, according to monthly data compiled by the Federal Labour Office, AFP reports.
And the unadjusted jobless total was up by more than 298,000 to 3.138 million.
But the increase was solely due to seasonal factors, such as the cold winter weather and the underlying trend remained positive, agency chief Frank-Juergen Weise insisted.
“The unfavorable economic conditions haven't left much of a mark on the labor market. The latest rise in unemployment is purely due to seasonal factors,’’ Weise said.
The seasonally-adjusted jobless rate – which irons out seasonal fluctuations – slipped to 6.8 percent from 6.9 percent.
And the jobless total fell by 16,000 to 2.916 million – its lowest level in four months – on a seasonally-adjusted basis, much better than analysts' forecasts for an increase of as many as 10,000.