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November 30, 2010    

German unemployment rate unchanged at 7%

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by Kay Murchie
”German

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%.

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