FX.co ★ German Unemployment N.S.A. Falls Slightly in October, Dropping Below 3 Million

Germany’s non-seasonally adjusted unemployment figure edged down in October 2026, slipping back below the 3 million mark. According to the latest data updated on 30 October 2026, the number of unemployed stood at 2.955 million, compared with 2.994 million in September 2026.

The modest decline of 39,000 people suggests a slight improvement in labor market conditions heading into the final quarter of the year. While the data are not adjusted for seasonal factors, the movement lower may indicate stabilizing or marginally stronger demand for labor in Europe’s largest economy as autumn progresses. Investors and policymakers will watch the coming months closely for confirmation that the downward trend can be sustained.