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German employment up 1.4% YOY in January

The number of people employed in Germany rose 1.4% in January year over year, on an unadjusted basis, provisional data from the Federal Statistical Office showed.

The number of people employed was roughly 44.2 million people in January, marking an addition of 631,000 people from a year ago. Roughly 1.6 million people were unemployed in Germany in January, 160,000 fewer than the previous year.

On a seasonally adjusted basis, 58,000 more people were employed in January than in December 2017. The unadjusted figure decreased by 327,000, or 0.7%, on December 2017.

The number of unemployed people stood at 1.55 million in January, on an adjusted basis, down roughly 14,000 people on the previous month, according to results of the labor force survey. The adjusted unemployment rate for Germany remained unchanged at 3.6% in January from December 2017.

German companies are looking to recruit more staff, the ifo Institute said, as the corresponding index hit a record high of 113.8 points in January from 113.6 points in the prior month.

"Sentiment in the German employment market remains very strong," the institute said, as distribution, construction and service sector companies plan to step up their search for more staff.