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German unemployment rate holds steady at 5 percent
33,000 less people out of job in February compared to January
02 March, 11:31
(ANSA-AP) - BERLIN - Germany's unemployment rate held steady
at 5 percent in February as the labor market in Europe's largest
economy remained strong.
The Federal Labor Agency said Friday that the number of
unemployed dropped 21,000 in January after accounting for
seasonal factors.
Despite that fall, the rate was unchanged for the fourth
straight month. In unadjusted terms, the rate remained at 5.3
percent for the second month in a row.
Overall, 2.37 million people were registered as jobless, down
33,000 from January.
ING economist Carsten Brzeski says the numbers show "the
German labor market remains an impressive growth engine for the
entire economy." He says "it is a perfect illustration of the
current divide of the German economy between a strong domestic
and stuttering external part." (ANSA-AP).
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