Latest data released by the Federal Employment Agency - 1 December 2020
- Prior -35.0k; revised to -38.0k
- Unemployment rate 6.1% vs 6.3% expected
- Prior 6.2%
German unemployment falls further in November despite the introduction of 'lockdown light', with the jobless rate even easing to its lowest level since April.
As mentioned before, the furlough program and short-time work schemes have made it very tough to extrapolate much details from what is going on in the labour market and this report exemplifies that notion in my view.
