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German labour market remains resilient despite rising COVID cases -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Cologne’s Christmas shoppers wear masks to fill Hohe Strasse, the main street, during the COVID-19 (coronavirus disease) pandemic. December 12, 2020, Cologne. REUTERS/Wolfgang Rattay/File Photo

BERLIN (Reuters). German unemployment dropped more than anticipated in December according to data released Tuesday. This is a sign that Europe’s biggest economy has remained resilient despite increasing COVID-19 infection rates.

According to The Labour Office, the total number of unemployed fell 23,000 seasonally adjusted to reach 2.405million. A Reuters poll forecasted a drop of 15,000

“The labor markets developed well at year’s end. Detlef Scheele, head of Labour Office, stated that the recovery from previous months was continuing.

Seasonally adjusted unemployment fell to 5.2%. It was the lowest level since March 2020 when Germany went into its coronavirus lockdown.

Scheele noted that there were increased risks associated with a rise in COVID-19 incidences and tighter restrictions to limit the spread of this disease.

In December, more companies indicated that they were ready to put additional workers on furlough.

The October data that was reliable showed that around 710.000 employees worked less in protection programs, or Kurzarbeit. It was significantly lower than the April 2020 peak of approximately 6 million.

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