Berlin - German unemployment fell to 16-year low in October, defying the economic gloom facing the nation, data released Thursday showed.
Seasonally unadjusted German unemployment fell to below 3 million for the time in 16 years, the Nuremberg-based Federal Labour Agency said with the numbers dropping by 84,000 in October to 2.997 million. This was 437,000 less than in the same month last year.
After dropping by a revised 28,000 in September, seasonally adjusted unemployment, which analysts see as pointing to long-term market trends, fell by another 26,000 to