German Jobs Recovery Accelerates as Firms Live With Virus Curbs
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German joblessness fell as the labor market increasingly comes to terms with coronavirus curbs.
Unemployment in Europe's largest economy declined by 33,000 in February, beating economists' estimates for a 22,500 drop and pushing the jobless rate to 5%.
“The labor market continued its upward trend,” said Federal Labor Agency chief Detlef Scheele. The effect of the war in Ukraine isn't being reflected in the figures as yet, he said.
Wednesday's numbers contrast with other data coming out of Europe's largest economy, which has probably fallen into a recession and where inflation resumed its ascent last month on surging energy costs.
Still, German private-sector output unexpectedly rose to a four-month high in January.
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