Germany / Unemployment falls to one-year low

Germany’s unemployment eased sharply in January to the lowest level in nearly a year, helped by the improving economic outlook and in part by favorable weather conditions, underpinning hopes that the recovery will gather pace in the first quarter on the back of strong private consumption.

Data released by the Labor Ministry on Thursday showed that the number of persons without a job decreased by around 28,000 from the December level to 2.93 million January, hitting the lowest level in eleven months. January’s decline was significantly bigger than the 5,000 fall forecast by economists.

Chosen excerpts by Job Market Monitor. Read the whole story at German Unemployment Falls To One-Year Low.