Jobless rate decreases
By George Frey |
December 2, 2009, Wednesday
|
Print Edition
Print Edition
THE number of unemployed in Germany unexpectedly fell in November while retail sales grew, official data showed yesterday, suggesting recovery in Europe's largest economy is on track.
The Federal Labor Office said the German unemployment rate narrowed by 0.1 percentage points from October to 7.6 percent. A total of 3.22 million people were out of work in November, down from 3.23 million in October.
Economists had expected the November level of unemployed to increase.
"After about a year of the economic crisis, the employment market is comparatively robust," said Frank-Juergen Weise, the Labor Office director, adding that the effects of unemployment on the economy was far less dramatic than many had expected.
Compared to November 2008, the level of unemployed rose by 227,000 for the month.
The Labor Office said about 100,000 workers at around 5,000 companies were put on shorter hours in November. The office estimated the total number of workers taking part in short time work programs stood at about 1 million in November, largely unchanged from the previous month.
Such programs have been partly subsidized by Chancellor Angela Merkel's government in an effort to keep jobs.
"It is no secret anymore, earlier reforms and, above all, subsidized short-term work have made the labor market more crisis-resistant than during earlier recessions," said Carsten Brzeski, an ING economist.
The Federal Labor Office said the German unemployment rate narrowed by 0.1 percentage points from October to 7.6 percent. A total of 3.22 million people were out of work in November, down from 3.23 million in October.
Economists had expected the November level of unemployed to increase.
"After about a year of the economic crisis, the employment market is comparatively robust," said Frank-Juergen Weise, the Labor Office director, adding that the effects of unemployment on the economy was far less dramatic than many had expected.
Compared to November 2008, the level of unemployed rose by 227,000 for the month.
The Labor Office said about 100,000 workers at around 5,000 companies were put on shorter hours in November. The office estimated the total number of workers taking part in short time work programs stood at about 1 million in November, largely unchanged from the previous month.
Such programs have been partly subsidized by Chancellor Angela Merkel's government in an effort to keep jobs.
"It is no secret anymore, earlier reforms and, above all, subsidized short-term work have made the labor market more crisis-resistant than during earlier recessions," said Carsten Brzeski, an ING economist.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
