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German unemployment rate holds steady at record low of 6.1%

Published 08/31/2016, 03:55 AM
© Reuters. German unemployment rate holds at 6.1%
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Investing.com - The number of unemployed people in Germany fell for the 11th straight month in August, while the unemployment rate held steady at an all-time low, official data showed on Wednesday.

In a report, Germany's Federal Statistics Office said the unemployment rate was unchanged at a seasonally adjusted 6.1% this month, in line with analyst expectations.

The number of unemployed people fell by a seasonally adjusted 7,000 from a month earlier, compared to forecasts for a drop of 5,000. Jobless claims fell by 8,000 in June.

EUR/USD was trading at 1.1136 from around 1.1134 ahead of the release of the data, while EUR/GBP was at 0.8502 from 0.8500 earlier.

Meanwhile, European stock markets were mixed in early trade. Germany's DAX dipped 0.2%, the EURO STOXX 50 inched up 0.15%, France’s CAC 40 added 0.3%, while London’s FTSE 100 tacked on 0.1%.

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