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Germany’s jobs juggernaut rolls on for another month.
Unemployment in the eurozone’s largest economy fell by more than expected last month, dropping by 14,000 and notching up its 19th consecutive month of falling joblessness.
February’s decline is better than the 10k expected by economists ahead of the release and means overall unemployment has fallen to yet another post-reunification low of 2.762m.
Germany’s labour market, which underwent a series of painful, liberalising reforms at the start of the last decade, has been a stellar feature of its economy since the eurozone crisis struck in 2010.
Unemployment is at its lowest rate since the fall of the Berlin wall in 1989, with economists now expecting a tight labour market to exert an upward pressure on wages and help support higher inflation.
Germany’s economy grew by an impressive 1.9 per cent in 2016 – its fastest pace in six years, making it the best performing advanced world economy last year.
Chart via Bloomberg