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German Unemployment drops in February
Today the Federal Labor Agency in Nürnberg reported that the number of unemployed people sank twice the forecasted amount. Economists predicted a drop of 10,000 but data showed it declined by seasonally adjusted 20,000 to 2.8 million - a proof that Eurozone's biggest economy is growing.
The Unemployment Rate remained unchanged at 6.5%, in line with forecasts and at a record low.
Frank-Juergen Weise, president of Germany's Federal Labour Agency, confirmed at a press conference the optimistic view of the labour market and said that companies will expand activity.
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