The German labor market remains strong despite the rise in the case of COVID, according to Reuters
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BERLIN (Reuters) – German unemployment fell more than expected in December, with data on Tuesday showing that the European economy’s largest labor market remains strong despite rising COVID-19 infections.
According to the Labor Office, the number of unemployed people fell by 23,000 in seasonally adjusted terms to 2,405 million. A Reuters poll predicted a drop of 15,000.
“The labor market was well developed at the end of the year. The recovery in previous months continued,” said Detlef Scheele, head of the Labor Office.
The seasonally adjusted unemployment rate fell to 5.2%, the lowest since March 2020, when Germany introduced the first coronavirus blockade.
Scheel warned that a jump in COVID-19 cases and renewed restrictions to sustain the spread of the disease increased uncertainties.
This was reflected in the fact that in December more companies said they would soon be able to lay off more workers.
In October, reliable data became available last month on employment protection programs, also known as Kurzarbeit, which saw a reduction in working hours to around 710,000. That dropped significantly from the peak of about 6 million in April 2020.
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