2010.08.3105:11:00UTC+00German Jobless Rate Stable At 7.6% In August

Germany's unemployment rate remained at 7.6% in August, data from Federal Labor Agency showed Tuesday. The rate matched economists' expectations.

There were 17,000 fewer unemployed in Germany in the month of August compared to July. Economists were expecting a fall of 20,000. In July, unemployment decreased by 21,000.

According to Federal Statistical Office, German unemployment according to the concept of the International Labour Organization decreased seasonally adjusted 330,000 persons or 10.1% year-on-year to 2.96 million in July. The seasonally adjusted jobless rate, which is harmonized across the EU and measured as the share of unemployed in the total labor force, was 6.9% in July.

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