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News : EU Economy Last Updated: May 31, 2011 - 4:49 PM


German retail sales rose in April; Unemployment rate fell to 6.1% - - 521,000 new net jobs were added in 12 months
By Finfacts Team
May 31, 2011 - 7:54 AM

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German retail sales rose in April while the unemployment rate fell to 6.1%. Additional jobs in 12 months amounted to 521,000.

According to provisional data from Destatis, Germany's federal statistics office, retail sales in April 2011 increased 5.1% in nominal terms and 3.6% in real terms compared with the corresponding month in the previous year. The number of days open for sale was 24 in April 2011 as it was in April 2010.
 
When adjusted for calendar and seasonal variations, the April turnover was in nominal terms 0.9% and in real terms 0.6% higher than that in March 2011. Compared with the previous year, turnover in retail trade was in the first four months of 2011 in nominal terms 2.6% and in real terms 1.1% larger.

Destatis also reported today that employment and unemployment in Germany continued their favourable trends in April 2011. The number of persons in employment living in Germany amounted to 40.68m, which was over half am more than a year earlier.  2.54m people were unemployed. This means that the unemployment rate was down to 6.0% in April 2011.

According to provisional results of employment accounts, the number of persons in employment in April 2011 rose by 521,000 or 1.3% compared with April 2010. Compared with March 2011, the number of persons in employment was up by 201,000 or 0.5% as a result of the usual spring upturn. The increase remaining after adjustment for seasonal effects amounts to 39,000 people (+0.1%) and reflects the short-term economic development.

According to results of the EU labour force survey, 2.54m people were unemployed in April 2011, which was a decrease of 490,000 or 16.1% on April of the previous year. Compared with March 2011, unemployment was markedly down by 190,000 or 6.7%. When adjusted for seasonal and irregular effects (trend estimation), the number of unemployed in April 2011 (2.57m) was by 40,000 smaller than in the previous month. The adjusted unemployment rate went down to 6.1%.

The dip in unemployment was again more marked for people aged 15-24 years (–25.4%) than for unemployed people aged 25 or over (–14.7%) when comparing the adjusted figures of April 2011 and 2010. Nevertheless, young people between 15 and 24 years of age continued to be somewhat more strongly affected by unemployment (rate of 7.9%) than people aged 25 to 74 years (5.9%).

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