Numbers of Germans Out of Work Increase Slightly in August
The rise in number of people without jobs was marginal in August while the unemployment rate was satisfactory, said the country's labor agency on Thursday. This indicates that the labor market in Europe's largest economy has not stumbled significantly amid a recent downfall in economic activity.
Analysts polled by The Wall Street Journal predicted a drop in joblessness number by 5,000 in August. There was no change in the unemployment rate as it remained 6.7% from July.
It is believed that consumer spending will counteract a negative business atmosphere exacerbated by recent tensions in Russia and Ukraine.
Gross domestic product of Germany saw a decline on 0.6% at an annualized rate during the second quarter and 0.2% from the first quarter. First three months of the year were good for the German economy, but businesses have faced troubles after that. Experts believe that this quarter will make it possible to return to expansion, but weak business survey suggests that growth would not be as good as previously believed.
The jobless rate was 4.9% in July after the revised rate of 5% in June. The unemployment rate was 5.3% during the same period last year. The total number of unemployed people came down to 2.09 million from 2.12 million in June.
The jobless rate among youth, aged fewer than 25, declined 0.1% over the month to 7.8%. The employment rate sought no change from 64.4% in July. Also, the number of employed people remained stable at 40.49 million.
Global markets registered strong start for the week with oil prices recovering and Italian banks supporting European indices. Italian authorities said that they are ready to spend 17 billion Euros to deal with closure of two big banks in Italy.
An AirAsia flight returned to Perth 90 minutes after takeoff due to single engine failure. The flight for Kuala Lumpur returned due to technical issue and landed safely in Perth at 10 am.
Microsoft has confirmed that some part of Windows 10 source code has leaked online. Some of the leaked source code was posted to Beta Archive this week. Beta Archive website keeps track of Microsoft Windows releases.
Google will stop scanning content of emails in future for serving advertisements to users based on content of their emails. Google has been criticized for this controversial advertising technique by privacy advocates.
Austrian government’s plan to offer Euro 1,000 to migrants to return home has found limited number of takers. As per Interior Ministry data, 427 migrants have accepted the offer.
American aviation major Boeing has signaled its intent to unveil a modified version of its 737 MAX 10 aircraft at the opening of the Paris Airshow on Monday this week.