German Unemployment Rate Falls To A Two Decade Low

By Benjamin Spier,

German unemployment falls by 18,000, beats expectations -> Better job numbers seen as sign of Europe’s economic growth -> No major movements in the EUR/USD following the positive data

German unemployment fell by 18,000 during the month of March, the Federal Labor Agency said today in a release. The drop in unemployment numbers beat analysts’ estimates by 8,000. Germany has 2.84 million unemployed people.

The unemployment rate fell from 6.8% to 6.7% over the same period, reaching a two decade low. Following the positive jobless rate, there was very little movement in EUR/USD, with the pair not straying far from its level before the report.

The numbers signal a resilient European economy since last year’s financial scare. Although Europe’s economy is expected to contact by 0.3% in 2012, Germany’s economy could expand by 0.6%, according to the European Commission forecast.
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Original Article: http://www.dailyfx.com/forex/market_alert/2012/03/29/German_unemployment_rate_falls_to_a_two_decade_low.html

DailyFX is the forex news and research arm of FXCM (NYSE: FXCM), which provides currency trading and brokerage services and is an advertiser on TheStreet websites. Any opinions, news, research, analyses, prices, or other information is provided as general market commentary, and does not constitute investment advice. Dailyfx will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Currency trading involves significant risk of loss. Individual authors may hold positions in the currencies discussed in the article.