January 30, 2020 / 9:05 AM / 18 days ago

German unemployment falls unexpectedly in January

BERLIN (Reuters) - German unemployment fell unexpectedly in January, the Federal Labour Office said on Thursday, signaling the resilience of a job market that has been supporting a consumption-led growth cycle weakened by a recession in the manufacturing sector.

Data from the Labour Office showed the number of people out of work fell by 2,000 to 2.277 million in seasonally adjusted terms. That compared with the Reuters consensus forecast for a rise of 5,000.

In unadjusted terms, unemployment rose by 198,000 to 2.425 million, the office said, reflecting the negative impact of the manufacturing recession on the labor market.

“The economic weakness continues to leave its mark on the job market,” said Labour Office head Detlef Scheele. “Overall, however, it was also robust at the beginning of the year.”

Reporting by Riham Alkousaa; Editing by Joseph Nasr

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