Unemployment falls in Germany

German unemployment fell for the sixth consecutive month in December, buoying hopes the labour market has escaped the worst of the downturn.

The federal labour office said seasonally adjusted unemployment fell by 3,000 on the month in December to 3.421 million, as statistical changes and a part-time work plan designed to prevent mass layoffs cushioned the labour market. The jobless rate held steady at 8.1 per cent.

Economists had forecast the jobless total would increase by 5,000 on the month and break declines that have allowed Germany to defy the jobless trend in Europe. – (Reuters)