FRANKFURT-Germany's jobless rate fell to a new low in May, reflecting a robust economy and confirming the country's labor market as the eurozone's strongest.
The jobless rate fell to 5.7% in May from 5.8% in April, the BA labor agency said Wednesday, referring to data adjusted for seasonal swings. ?At the same time, j?obless claims fell by another 9,000. Economists polled by The Wall Street Journal had expected a drop of 14,500.
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Germany's jobless rate is now the lowest since records began in 1992, after the country's unification in 1990.
"Demand for labor continues to be very strong," said Detlef Scheele, the BA's chairman. The BA said that 714,000 jobs were registered as vacant in May, or 60,000 more than in the same month last year.
Germany's jobs market is set to remain tight this year. The BA's research arm, IAB, forecasts record employment of 44.26 million people and a decline in average joblessness to 2.53 million people, which would be the lowest level since German reunification in 1990.
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(END) Dow Jones Newswires
May 31, 2017 04:41 ET (08:41 GMT)