Source Pravda.Ru

German unemployment dips below 11 percent

Germany's unemployment rate edged down to 10.9 percent in November, falling below 11 percent for the first time since the summer, the government said Thursday. The unadjusted jobless rate was down from 11 percent in October. The Federal Labor Agency said nearly 4.53 million people were out of work, down 25,000 from the previous month. Previous German economics and labor minister Wolfgang Clement, who was replaced by Franz Muentefering as labor and social affairs minister last week, had said last month that November jobless figures would likely show a drop.

The seasonally adjusted figures were much better than expected. The number of unemployed in Germany in seasonally adjusted terms fell by 53,000 in November from the 29,000 decline in October.

The seasonally adjusted unemployment rate fell to 11.5 percent in November from 11.6 percent in October. Economists expected the seasonally adjusted jobless rate to remain at 11.6 percent in November.

In western Germany, there were 34,000 fewer people out of work in November while the number in seasonally adjusted terms fell by 19,000 in eastern Germany, reports the AP. I.L.

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