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German January Unemployment Declines More Than Forecast to Two-Decade Low

From bloomberg.com

German unemployment dropped more than economists forecast to a fresh two-decade low in January, bolstering economic growth as the region’s fiscal crisis threatens to undermine export demand. The number of people out of work fell a seasonally adjusted 34,000 to 2.85 million, the Nuremberg-based Federal Labor Agency said today. That’s the biggest drop since March. Economists forecast a decline of 10,000, the median of 32 estimates in a Bloomberg News survey shows. The adjusted jobless rate slipped to 6.7 percent from 6.8 percent. “The labor market is the main supporting pillar of the economy and the reason why we’re ... (full story)

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