German jobless rate sinks to 23-year low
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Berlin GERMAN unemployment fell to its lowest level in more than two decades in April, data showed on Thursday, strengthening expectations that private consumption will help drive growth in Europe's largest economy this year.
The number of people out of work decreased by 8,000 on a seasonally adjusted basis to 2.792 million, hitting its lowest level since December 1991, data from the Labour Office showed.
The jobless rate remained at 6.4 per cent, the lowest reading since German reunification in 1990 and in line with the consensus forecast in a Reuters poll. "The extremely solid labour market remains the showcase model of the German recovery," ING Bank analyst Carsten Brzeski said.
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