The economy in Germany might not look good, but Germans still have reason to be optimistic. This, after the Federal Labor Agency in Germany reported that the country’s unemployment rate had decreased to 6.5 percent in October. The agency said on Wednesday that in October 2.737 million people were registered as jobless in Germany in October which is 59,000 fewer than the previous month.
Moreover, the agency said the number of unemployed people increased by 10,000 following months of declines. According to reports, Germany’s economic growth has been losing steam lately amid clouds over the global economy and the eurozone debt crisis. Germany has the world’s fourth largest economy by nominal GDP and the fifth largest by purchasing power parity.
It is the second largest exporter and third largest importer of goods. The country has developed a very high standard of living and a comprehensive system of soci al security. Germany has been the home of many influential scientists and inventors, and is known for its cultural and political history.