German Unemployment Takes An Unexpected Plunge

After two months of modest increases, the number of unemployed people in Germany took a surprise plunge this October.

According to figures out Thursday from the country’s statistical agency, the number of people out of work and looking fell by 22,000. The rate stays unchanged at 6.7%.

That’s not bad news for a country where business confidence just dropped to a 22-month low and where some analysts have already started predicting a recession.

This graph from Pantheon Macroeconomics shows falling jobless numbers in Germany:

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