German unemployment drops slightly in November

AP News
Posted: Nov 29, 2012 4:45 AM

BERLIN (AP) — Official figures show the number of Germans unemployed ticked down slightly in November, even though growth in Europe's largest economy is coming off the boil.

Labor Agency head Frank Weise says Thursday the numbers show the job market in Germany remains "robust."

Overall, 2.751 million people were out of work in November, down 2,000 from October. The unemployment rate was unchanged at 6.5 percent.

When adjusted for seasonal factors the number of jobless increased slightly, leaving the rate at 6.9 percent.

ING economist Carsten Brzeski says the German labor market appears to be "gradually losing steam," but that the slowdown may be "gradual" and "short-lived" if the external environment improves quickly.

Hold The Damn Vote Already
Derek Hunter

German growth has moderated as many of the country's euro partners struggle in the face of their big debts.