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Thursday April 28, 08:32
German jobless rate fell
(by Olivia Cohen)

An unemployment rate for Europe’s largest economy Germany fell for the first time in 15 months indicating slight activity in taking spring outdoor jobs.

Germany’s unemployment rate fell by 79,000 to 4.89 million, the Nuremberg-based Federal Labor Agency said Thursday, showng a decline in jobless rate by 0.2% (from 12% to 11.8%).

Economists say the trend is still not changed and the fall indicates «a correction of earlier distortions to the upside.» «We’re still far away from a trend change in the labor market,» said Juergen Michels, an economist at Citigroup Global Markets in London.

The rise in jobless claims was mainly caused by colder than expected weather, market analysts say.

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