Latest data released by the Federal Employment Agency - 31 August 2021

  • Prior -91.0k
  • Unemployment rate 5.5% vs 5.6% expected
  • Prior 5.7%; revised to 5.6%

German labour market conditions continue to show signs of further improvement, with the unemployment total falling 2.58 million from 2.6 million in July. That said, the impact of the Kurzarbeit furlough scheme is still something that needs to be sorted out before getting a better read on things but at least the signs are encouraging.