German unemployment falls to 7.5% in June

| June 30, 2010 | 0 Comments

The Federal Labour Agency has today announced German unemployment fell in June to 7.5%, from 7.7% the previous month.

According to the agency, the number of people registered as unemployed fell by 88,000 to 3.153 million.

Analysts expect unemployment in the euro zone’s largest economy to continue to fall this year but said the jobless total would not fall below the 3 million mark.

The agency’s chief, Frank-Juergen Weise, said: “The good labour market development of the past months continued in June; the major indicators have improved again.”

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.

Carsten Brzeski, an economist at ING in Brussels, comments: Germany’s performance on employment “remains impressive and clearly is the showcase of German crisis management.”

Tags: , , job market, , Kurzarbeit scheme,

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