FRANKFURT-German jobless claims dropped as expected in August and the unemployment rate stayed at a record low.
Jobless claims fell by 5,000 from July, the BA labor agency said Thursday, referring to data adjusted for seasonal swings.
Continue Reading Below
"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 email@example.com
(END) Dow Jones Newswires
August 31, 2017 04:34 ET (08:34 GMT)