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German unemployment falls in September despite supply bottlenecks By Reuters

by Mike Robinson

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© Reuters. A homeless man poses in front of the pawnshop during the COVID-19 (coronavirus) epidemic in Berlin, Germany on July 30, 2020. REUTERS/Fabrizio Bensch

BERLIN (Reuters) – German unemployment fell in September, official figures showed on Thursday, suggesting that supply chain bottlenecks hitting industrial firms have not yet taken toll on recovery in Europe’s biggest economy.

According to the Labour Office, 2.508 million people were out of work in seasonally adjusted terms. According to Reuters, 33,000 people would lose their jobs.

The seasonally adjusted rate of joblessness remained stable at 5.5%.

Daniel Terzenbach, Federal Labour Agency said that “the labour market is continuing with its positive developments.” “Unemployment is on the decline and so are underemployment.

A survey by Ifo showed that 77.4% German industry firms had difficulty purchasing intermediates or raw materials in March, according to a report published Wednesday. Ifo reported that 97% of car manufacturers were affected by this problem.

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