(RTTNews) - Germany’s unemployment rate declined year-on-year in July, a report by the Federal Statistical Office said Thursday. The decline was observed in both males and females.

According to the ILO (International Labor Organization), on a seasonally adjusted basis, unemployment declined 12% year-on-year in July to 3.16 million persons. The unemployment rate for the month fell to 7.3% from 8.4% last year. Analysts had expected the rate to be 7.8%.

Unemployment among males fell 11.6% to 1.71 million persons, while it declined 12.4% to 1.45 million for females. The unemployment rate for males stood at 7.4%, down from 8.4% in June. For females, the rate fell to 7.2% from 8.3%.

For the youth, persons aged between 15 and 24, unemployment fell 12.1% to 0.51 million. The unemployment rate for this group declined to 9.7% from 11%. For the age group 25-74, unemployment fell 11.9% to 2.65 million. The jobless rate declined to 7% from 8% last year.

On the other hand, the number of employed persons increased to 40.16 million from 39.6 million in the previous year. This represented a 1.4% rise in employment, same as the growth in the previous two months.

On a monthly basis, unemployment fell 0.7% in July, reflecting a fall in unemployment for both genders and also for all the age groups.

However, the number of employed persons rose a seasonally adjusted 0.1% in July compared with zero growth of the past two months. On an unadjusted basis, employment fell 0.1%.

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