German unemployment rises for sixth consecutive month

| April 30, 2009 | 0 Comments
”German

In April, German unemployment increased for the sixth consecutive month, by 58,000 to 3.46 million, which takes the unemployment rate to its highest level in nearly two years.

April’s official figure, released by the Federal Labour Agency, is better than analysts have predicted with 70,000 job cuts predicted in the latest poll.

Frank-Juergen Weise of the German labour office said that the German economy is suffering at the hands of the recession as the labour market weakens.

April’s unemployment figures are still exceptionally weak given the fact that they are usually boosted by an increase from the construction sector and related industries.

Overall unemployment in the 16-country euro zone has increased by 0.2 percent to 8.9 percent standing at a 3-year high with over 400,000 jobs lost in the euro zone last month.

The government has already put together two stimulus packages at a cost of 80 billion euros, although they were initially successful as the intention was to keep workers on and cut hours instead of jobs but these measures have become less effective now that the recession has deepened.

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