Unemployment rate in Germany falls to record low
Things are looking up in the eurozone’s biggest economy, Germany, but far from rosy for its southern neighbour, Italy.
Germany’s unemployment rate for December came in at a better than expected 6.5 per cent, down from 6.6 per cent in November. Economists had forecast the 6.6 per cent rate to hold steady.
The low unemployment rate in – at a time when the rest of the eurozone is struggling to cope with joblessness – is a rare bright spot and highlights the strength of the German economy.
But the picture is far more grim in Italy, where the unemployment rate jumped to a record 13.4 per cent in November, compared to 13.3 per cent in October.