The German Jobs Machine Keeps Rolling, Unemployment Drops in March
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Ahead of the nonfarm payroll report, Germany had some bullish news out regarding its own economy today.
According to Germany's Federal Labor Agency, unemployment in March fell 18,000 to 2.84 million, far ahead of the 10,000 drop expected by economists. Overall, the adjusted jobless rate slipped to a 20-year low of 6.7 percent.
Recently, the European Commission reinforced its confidence in Germany, saying the largest euro-zone economy would grow 0.6 percent in 2012 amid expectations for a 0.3 percent consolidation from the 17-nation union.
On March 19th, Germany's Bundesbank said there would be robust growth in the early part of 2012, following a 0.2 percent GDP consolidation. Bloomberg, today, noted that Essen-based RWI raised its outlook for 2012 to growth of 1 percent on March 21st.
U.S. nonfarm payroll additions in February came in above expectations at 227,000. No expectations are set for the March report, expected out before the market opens on April 6th.
U.S. markets are indicated for a lower open Thursday.
According to Germany's Federal Labor Agency, unemployment in March fell 18,000 to 2.84 million, far ahead of the 10,000 drop expected by economists. Overall, the adjusted jobless rate slipped to a 20-year low of 6.7 percent.
Recently, the European Commission reinforced its confidence in Germany, saying the largest euro-zone economy would grow 0.6 percent in 2012 amid expectations for a 0.3 percent consolidation from the 17-nation union.
On March 19th, Germany's Bundesbank said there would be robust growth in the early part of 2012, following a 0.2 percent GDP consolidation. Bloomberg, today, noted that Essen-based RWI raised its outlook for 2012 to growth of 1 percent on March 21st.
U.S. nonfarm payroll additions in February came in above expectations at 227,000. No expectations are set for the March report, expected out before the market opens on April 6th.
U.S. markets are indicated for a lower open Thursday.
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