German jobs resilience offers scant support for private consumption

From think.ing.com

The German labour market is still holding up. Unemployment actually dropped by 48,700 in March, the best March performance of the labour market since 2022. At the same time, however, the fact that the absolute number of those unemployed remains above the politically important 3 million for the third month in a row is anything but good news. In fact, the last time the total number of unemployed was above 3 million for three consecutive months was in 2014. Another wasted year for private consumption Over the last two months, the gradual worsening of the labour market has taken a breather. However, this does not take ... (full story)