July 31, 2018 / 8:02 AM / a year ago

German labour market loses steam in July

BERLIN, July 31 (Reuters) - Germany’s jobless numbers dropped by less than expected in July, data showed on Tuesday, reflecting a cooling economy.

The Federal Labour Office said the seasonally adjusted jobless total fell by 6,000 to 2.338 million. That compared with an expected drop of 10,000 forecast in a Reuters poll.

The unemployment rate was unchanged at 5.2 percent, the lowest since German reunification in 1990.

A robust labour market has been the backbone of a consumption-led upswing in Europe’s largest economy, which went through a soft patch at the start of the year.

“The development of the labour market is very good,” Labour Office head Detlef Scheele said in a statement. “But it is no longer as energetic as before.”

The outlook for the economy has been clouded by restrictive trade measures and fears of a trade war between major trading blocs. (Reporting by Joseph Nasr Editing by Paul Carrel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below