Germany's unemployment hits lowest level since March 2004

Germany's unemployment fell in October to 10.4 percent after seasonal adjustment, the lowest level since March 2004, the Federal Labor Office said on Thursday.

The Nuremberg-based agency said that the number of people out of work fell 67,000 to 4.35 million as manufacturers including plant and machinery makers increased hiring on a growing demand for exports.

"The improving economy has given a boost to the labor market," Labor Office Minister Frank-Juergen Weise said.

Without seasonally adjusted swings, the unemployment rate dropped to just under 4.1 million, 150,000 less than in September and 470,000 less than the same period last year.

That also means that the country's unemployment rate dropped by 0.3 percent to 9.8 percent, the first time below 10 percent in four years.

Unemployment varies in the country, with the jobless rate standing at 15.7 percent in the eastern part, and at 8.2 percent in the west.

"The decrease of unemployment explains itself particularly with the structure of occupation liable to social security," Weise added.

Apart from the positive economy, the unemployment fall might have resulted from "the more intensive support of unemployed persons and the systematic actualization of applicant offers," according to the Labor Office.

Source: Xinhua