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Germany: Positive surprise
German unemployment dropped by 108,000 in September, lowering the number of unemployed to 2.847 million - the lowest level since May this year. This is actually the best September performance since 2012, suggesting that the negative impact from the Covid-19 crisis is gradually weakening. At least for now. According to the German labour agency, new applications for short-time work schemes slowed further in September to 85,000 from 1 million in May and 8 million in April. Remember that not all filed applications will eventually be admitted. This is why, officially, 4.2 million employees received short-time work ... (full story)
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