Germany’s jobless rate falls by 1000

Unemployment in Germany, Europe’s biggest economy, dropped in June for the first time since January as companies including Siemens AG stemmed the pace of job cuts.

The number of job seekers fell a seasonally adjusted 1,000 to 4.369 million, keeping the jobless rate at 10.5%, the Federal Labour Agency said.

Economists forecast a gain of 10,000, the median of 36 estimates in a Bloomberg News survey showed.