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German jobless rate down the most in 6 months

Zurich

GERMAN unemployment unexpectedly declined in October, dropping the most in six months in a sign of companies' confidence in the underlying strength of Europe's largest economy.

The number of people out of work declined a seasonally adjusted 22,000 to 2.887 million in October, the Nuremberg-based Federal Labor Agency said on Thursday. Economists forecast an increase of 4,000, according to the median of 29 estimates in a Bloomberg News survey. The adjusted jobless rate was unchanged at 6.7 per...

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