8% Jobless Rate Good? In Germany It’s 15-Yr. Low
Submitted by CARPE DIEM
Jan. 31 (Bloomberg) — Germany’s unemployment rate fell to the lowest level in 15 years in January. The jobless rate, adjusted for seasonal swings, dropped to 8.1%, the Federal Labor Agency in Nuremberg said today.
Comment: We haven’t had an unemployment rate in the U.S. above 8% in almost a quarter century, since December of 1983 (see chart above, click to enlarge), following the longest post-WWII recession in U.S. history (16 months).
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