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German Unemployment Unexpectedly Falls as Economy Weathers Woes
German unemployment unexpectedly declined in October in a sign of companies’ confidence in the underlying strength of Europe’s largest economy. The number of people out of work declined a seasonally adjusted 22,000 to 2.887 million in October, the Nuremberg-based Federal Labor Agency said today. Economists forecast an increase of 4,000, according to the median of 29 estimates in a Bloomberg News survey. The adjusted jobless rate was unchanged at 6.7 percent, the lowest level in more than two decades. Germany’s economy eked out little, if any, growth in the third quarter after contracting in the April-June ... (full story)