German Jobless Claims Drop as Expected in August

By Nina Adam Features Dow Jones Newswires

FRANKFURT-German jobless claims dropped as expected in August and the unemployment rate stayed at a record low.

Continue Reading Below

Jobless claims fell by 5,000 from July, the BA labor agency said Thursday, referring to data adjusted for seasonal swings.

"The labor market continues to develop positively," as businesses' demand for new workers remains high, said Detlef Scheele, the BA's chairman.

Germany's adjusted jobless rate was unchanged at 5.7% in August, the lowest rate since the beginning of the series in January 1992.

Write to Nina Adam at nina.adam@wsj.com

(END) Dow Jones Newswires

Continue Reading Below

August 31, 2017 04:34 ET (08:34 GMT)