Investing.com – The number of unemployed people in Germany fell more-than-expected in January, while the country’s jobless rate dropped to a record low, official data showed on Tuesday.
In a report, Germany's Federal Statistics Office said the number of unemployed people fell by a seasonally adjusted 34,000 in January, easily surpassing expectations for a decline of 7,000.
The previous month’s figure was revised to a decline of 25,000 people from a previously reported drop of 22,000.
The report showed that Germany’s unemployment rate fell to a record low 6.7% in January from 6.8% in December. Analysts had expected the jobless rate to remain unchanged at 6.8%.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD rising 0.34% to trade at 1.3188.
Meanwhile, European stock markets were broadly higher after the open. The EURO STOXX 50 climbed 0.7%, France’s CAC 40 rose 0.95%, Germany's DAX advanced 0.65%, while London’s FTSE 100 added 0.7%.
In a report, Germany's Federal Statistics Office said the number of unemployed people fell by a seasonally adjusted 34,000 in January, easily surpassing expectations for a decline of 7,000.
The previous month’s figure was revised to a decline of 25,000 people from a previously reported drop of 22,000.
The report showed that Germany’s unemployment rate fell to a record low 6.7% in January from 6.8% in December. Analysts had expected the jobless rate to remain unchanged at 6.8%.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD rising 0.34% to trade at 1.3188.
Meanwhile, European stock markets were broadly higher after the open. The EURO STOXX 50 climbed 0.7%, France’s CAC 40 rose 0.95%, Germany's DAX advanced 0.65%, while London’s FTSE 100 added 0.7%.