German Unemployment Drops as Winter Fails to Arrive

From bloomberg.com

German unemployment (GRUECHNG) fell more than forecast in December as exports of cars and machinery boomed and one of the mildest winters on record helped support jobs in construction. The number of people out of work fell a seasonally adjusted 22,000 to 2.89 million, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 10,000, the median of 20 estimates in a Bloomberg News survey showed. The adjusted jobless rate (GRUEPR) dropped to 6.8 percent. German companies, working off orders for exports and investment goods, have so far defied a debt crisis the European ... (full story)