The unemployment rate in Germany collapsed way more than the German economists expected for October, establishing a new national record in the unemployment field, writes Bloomberg.
The number of people without a job dropped to 2.662 million people in October, according to a data published by the Federal Labour Agency in Nuremberg.
The unemployment rate fell to 6%, which represents the lowest level reported by the European country since the German reunification.
According to the data published by the Federal Statistics Office, the unemployment rate in Germany was 5.64% in 1949.
Although the financial uncertainty established by the Brexit affected the entire Europe, the slight slowdown in Germany’s national economy recovered and it’s back on a positive track.
According to some recent reports from the production and business industry suggested that the powerful financial system of their country recovered and it will become even stronger by the end of the year.
However, Germany’s central bank claims the ‘impact is still strong’.
Economists believe the German economy rose by 0,3% in the third quarter, after the impressive progress of 0,4% registers in the second semester. The official data will be published on November 15.
Although the unemployment rate is extremely alarming, other numbers show that in Germany
The German officials expect the unemployment to shrink even more until the end of this year.
According to Quartz, things are looking good for Germany taking into consideration the fact that advertised job vacancies have been continuously setting new records. Last month, unfilled positions rose to nearly 700,000.