German jobless claims dropped more than expected in July, reflecting a robust economy and underpinning the strength of the country's labor market.
The jobless rate was 5.7% in July, the same as in June, the BA labor agency said on Tuesday, referring to data adjusted for seasonal swings. Jobless claims fell by 9,000 in July, a faster pace of decline than expected by economists who forecast a decline of 5,500 in The Wall Street Journal's survey.
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"News from the labor market are positive," said BA Chairman Detlef Scheele.
Demand for labor remained strong. The BA said that 750,000 jobs were registered as vacant in July, or 76,000 more than in the same month last year.
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(END) Dow Jones Newswires
August 01, 2017 04:21 ET (08:21 GMT)