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German employment rises 1.4% YOY in February

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German employment rises 1.4% YOY in February

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

The annual increase was nearly the same as in January.

Roughly 44.3 million people were employed in the country in February, an increase of 621,000 people from the previous year. The number of unemployed people fell by 236,000 from the year ago period. Approximately 1.63 million people were unemployed in February.

An additional 44,000 people were employed in February as compared to the prior month, after eliminating seasonal fluctuations. The unadjusted figure climbed by 63,000, or 0.1%, on January.

On a seasonally-adjusted basis, the number of unemployed people in Germany stood at 1.51 million in February, roughly 11,000 fewer than in January. The adjusted unemployment rate inched down to 3.5% in February from January's 3.6%.

Unadjusted unemployment rose by 6.5%, or 94,000 people, in February, month over month.