Latest data released by the Federal Employment Agency - 30 June 2021
- Prior -15.0k
- Unemployment rate 5.9% vs 5.9% expected
- Prior 6.0%
German unemployment falls further in June and that is encouraging as it reaffirms the recovery trend in the labour market, amid the improving virus situation.
This bolsters confidence of stronger consumption going into the summer.
Another point to note is that the number of employees on the furlough/Kuzarbeit scheme fell sharply, according to preliminary figures cited by the source agency. So, that's a positive sign that labour market conditions are indeed showing improvement.
