In brief
Germany’s unemployment rate fell to 6.3% in October, down from 6.4% in September, as the number of unemployed dropped by 40,000 to 2.955 million. Senior officials from the Federal Employment Agency noted the decline is modest, and the ifo Institute’s employment barometer rose to 95.5 points, indicating that companies are becoming more cautious about job cuts. Despite the relief, broader economic conditions remain weak.
In Berlin, German unemployment fell to 6.3% in October, down from 6.4% in September, official data showed Friday.
The number of unemployed people dropped 40,000 from the previous month to 2.955 million, though it remains 44,000 higher than a year earlier.
Andrea Nahles, head of the Federal Employment Agency, said the decline in unemployment in October was relatively modest.
Economic conditions remain insufficient for an improvement in the labor market.
The Munich‑based ifo Institute reported its employment barometer rose to 95.5 points in October from 95.1 points in September. The rise suggests firms are becoming somewhat more cautious about cutting jobs, though the economic upturn still lacks the strength for a broad expansion of the workforce.
Klaus Wohlrabe, head of surveys at ifo, said companies were becoming somewhat more cautious about cutting jobs, but the economic upturn still lacks the strength for a broad expansion of the workforce.