|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
22nd of December 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
November 30, 2010    

German unemployment rate unchanged at 7%

Bookmark and Share

by Kay Murchie

The Federal Labour Agency has today announced Germany’s unemployment rate remained at 7% in November.

However, the jobless total fell by 14,000 to 2.931 million, down from 2.945 million the previous month.

The number of unemployed continues to remain below the crucial three million mark – boosted by a combination of Government measures and reforms.

Germany’s job market is much stronger than in many other countries and many believe it is the result of the “Kurzarbeit” scheme, introduced by the German Government, designed to prevent mass redundancies.

Commenting, labour office head Frank-Juergen Weise said: “The labour market is profiting from good economic conditions. Unemployment is falling, employment … is rising and demand for workers is increasing.”

Today’s figures reinforce Germany’s strong recovery from its worst recession in decades.

Export demand helped to bring Germany out of recession in the second quarter of last year – much sooner than many of its counterparts throughout the world.

Europe’s largest economy appears to be driving the recovery of the euro zone after figures earlier this month revealed economic growth in the July to September period was 0.7%.

On an annual basis, the German economy grew by a staggering 3.9%.

Discuss this in the Finance Markets forums

Story link: German unemployment rate unchanged at 7%

Financial Services:

Related financial stories to: German unemployment rate unchanged at 7%:
Previous: «
Next: »

Visited 618 times, 3 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: 3 million, below, , , , , , , , , , ,