(RTTNews) - Wednesday, the German Federal Statistical Office said in a report that the ILO jobless rate stood at a seasonally adjusted 7.1% in November, compared with 8% recorded in the previous year. In October, the rate was 7.1%. The November rate was in line with economists’ expectations.

In November, the number of unemployed amounted to 3.08 million. On an annual basis, the unemployment dropped 10.6% or 360, 000 persons.

On the employment front, there were 40.83 million with jobs in November. Though the level increased by 500,000 from the same month last year, the rise of 1.2% was the smallest since December 2006. Citing the 1.7% employment growth recorded in January 2008, the statistical office noted that the economic downturn is beginning to show on the labor market, too.

The number of employed increased by 12,000 from October. When compared with the average increase of 53,000 in the November months of 2005 to 2007, the latest level is another indication of a slowdown of the growth in the number of persons in employment, the Destatis said.

On a seasonally adjusted basis, the number of employed was 40.41 million in November compared with 40.39 million in October.

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