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German jobless claims fall by 28,000 in January

Published 01/30/2014, 03:59 AM
German jobless claims fall more than expected in January
EUR/USD
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Investing.com - The number of unemployed people in Germany fell for the second consecutive month in January, while the country’s jobless rate held steady, official data showed on Thursday.

In a report, Germany's Federal Statistics Office said the number of unemployed people declined by a seasonally adjusted 28,000 this month, much better than expectations for a drop of 5,000. Jobless claims in December were revised to a drop of 19,000 from a previously reported decline of 15,000.

The report showed that Germany’s unemployment held steady at 6.8% in January, compared to expectations for an increase to 6.9%.

Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.3% to trade at 1.3624, compared to 1.3619 ahead of the data.

Meanwhile, European stock markets remained lower. The EURO STOXX 50 shed 0.45%, France’s CAC 40 declined 0.35%, Germany's DAX fell 0.25%, while London’s FTSE 100 inched down 0.4%.

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