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German Jobless Rates Unexpectedly Declines on Growth Revival

“German unemployment unexpectedly fell in February amid signs that Europe’s biggest economy is returning to growth after a contraction at the end of last year.

The number of people out of work fell a seasonally adjusted 3,000 to 2.92 million, the Nuremberg-based Federal Labor Agency said today. Economists had predicted unemployment to be unchanged, the median of 33 estimates in a Bloomberg News survey showed. Theadjusted jobless rate held at 6.9 percent this month after the January rate was revised up from an initially reported 6.8 percent…”

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