Reuters reports that according to the report from the Federal Employment Agency, German unemployment fell unexpectedly in December, despite the retail lockdown imposed that month.

The number of people out of work fell by 37,000 in seasonally adjusted terms to 2.776 million. Economists had expected a rise of 10,000. The unemployment rate remained unchanged compared to the previous month at 6.1%, the lowest level since April.

The number of people on short-time work schemes, which have shielded the labour market from the brunt of the pandemic, rose by 666,000 in the first four weeks of December, as partial and full lockdowns.