September 30, 2019 / 7:58 AM / 2 months ago

German labour market shows resilience despite manufacturing slump

BERLIN, Sept 30 (Reuters) - German unemployment fell unexpectedly in September, data showed on Monday, suggesting that the labour market in Europe’s largest economy so far remains relatively immune to an economic downturn being driven by a manufacturing slump.

Data from the Federal Labour Office showed the number of people out of work fell by 10,000 to 2.276 million in seasonally adjusted terms. That compared with the Reuters consensus forecast for a rise of 5,000.

The office revised down the joblessness figures for August to a rise of 2,000 from a previously reported increase of 4,000.

The jobless rate in September held steady at 5.0% - slightly above the record-low of 4.9% reached earlier this year.

“The economic downturn again is reflected in the labour market in September. But all in all, the labor market is still in a robust shape,” said Labour Office head Detlef Scheele.

The level of employment remains high but is losing momentum while the demand of companies for new employees continues to slow down at an elevated level, Scheele added. (Reporting by Michael Nienaber Editing by Paul Carrel)

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