By Nina Adam
FRANKFURT--German jobless claims dropped sharply in December and the unemployment rate remained at a record low, cementing Germany's position as the eurozone's strongest labor market.
Jobless claims in December fell by 17,000 from November, adjusted for seasonal swings, the BA labor agency said Tuesday. Economists polled by The Wall Street Journal had forecast a decline of just 5,000.
Frank-Juergen Weise, the agency's head, said that Germany's labor market continued its solid run, despite a noticeable easing in employment creation since the summer.
Germany's adjusted jobless rate stood at 6.0%, unchanged from November and the lowest level since the beginning of the data series in January 1992, following Germany's unification.
A total of 2.568 million people were registered as unemployed in December, the BA said.
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(END) Dow Jones Newswires
January 03, 2017 04:17 ET (09:17 GMT)
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