BERLIN (dpa-AFX) - Germany's unemployment declined further in February, reflecting the improvement in the labor market, monthly data published by the Federal Labor Agency revealed on Wednesday.
The number of people out of work decreased 33,000 from January, which was bigger than the economists' forecast of -23,000. In January, unemployment had declined 48,000.
The jobless rate fell to 5.0 percent in February from 5.1 percent in the previous month. The rate was forecast to remain unchanged at 5.1 percent.
The labor market continued its upward trend until February, Federal Employment Agency CEO Detlef Scheele, said. However, the war in Ukraine is not yet reflected in the current indicators.
Earlier in the day, data published by Destatis showed that about 1.38 million people were unemployed in January, down by 354,000, or -20.4 percent compared with January 2021.
The unemployment rate came in at unadjusted 3.2 percent compared to 4.1 percent in the previous year.
The ILO unemployment rate dropped to an adjusted 3.1 percent in January from 3.2 percent in December, data showed.
The number of persons in employment was up by 1.4 percent, or +624,000, in January. This was the ninth consecutive month since May 2021 for which a year-on-year increase was recorded.
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