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German unemployment drops unexpectedly in July

Reuters
·1-min read

BERLIN (Reuters) - The number of people of work in Germany unexpectedly declined in July, data showed on Thursday, boosting hopes that the labour market in Europe's largest economy could get out of the coronavirus crisis with no more than a black eye.

The Labour Office said the number of people out of work fell by 18,000 in seasonally adjusted terms to 2.923 million people. A Reuters poll had forecast an increase of 43,000, which would have pushed the unemployment rate to 6.5%.

The adjusted unemployment rate remained at 6.4%.

(Reporting by Michael Nienaber; Editing by Michelle Martin)