German Employment Grows While Unemployment Falls
Source: http://germaneconomy.blogspot.com/2008/09/german-employment-grows-while.htmlPosted on Tuesday, September 30th, 2008 | In Economics, Germany
One of the great enigmas about the current economic slowdown in Germany is the way unemployment continues to fall and employment continues to rise, even as retails sales drop, and exports weaken. German unemployment fell again in September as machine makers hired people to work off an order backlog. The number of workers without jobs, adjusted for seasonal variations, dropped by 29,000 to 3.18 million after falling 40,000 in August, according to data from the Federal Labor Agency out today.
According to the latest comparable data of ILO equivalent measures published by the Organization of Economic Cooperation and Development, Germany’s jobless rate was 7.3 percent in July. France, Germany’s main trading partner, reported 7.3 percent unemployment compared with 4 percent in Japan and 5.7 percent in the U.S. The OECD average was 5.8 percent.
In a separate report the Federal Statistical Office, using a slightly different methodology (the monthly labour survey) announced that in August 2008 the number of persons in employment was 40.27 million. That was an increase by 558,000 persons (+1.4%) on August last year.
In August 2008, the number of persons in employment in Germany amounted to 40.30 million after elimination of the typical seasonal variations. That was a seasonally adjusted increase by 42,000 persons (+0.1%) on July 2008.
Based on the labour force survey, and according to the definitions of the International Labour Organization (ILO) the seasonally adjusted unemployment rate – which is harmonised across the EU and measured as the share of unemployed in the total labour force – amounted to 7.2% in Germany and was thus considerably below the level of August 2007 (8.3%).
Last 5 posts by Edward Hugh
- Are Russia's Consumers Getting "Carried Away" With Themselves? - November 22nd, 2009
- Global Manufacturing, France Outperforms, As Spain Continues To Flounder - November 3rd, 2009
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- Beyond The Consensus On European Bank Credit - October 27th, 2009
- The French Rebound Continues In October While Germany Moves Sideways - October 27th, 2009
Economics, European Union, Federal Labor Agency, Federal Statistical Office, France, Germany, Germany, International Labour Organization, Japan, Organization of Economic Cooperation and Development, United States
 About Edward Hugh (http://globaleconomydoesmatter.blogspot.com)
Edward Hugh is a macro economist, who specializes in growth and productivity theory, demographic processes and their impact on macro performance, and the underlying dynamics of migration flows. Hugh is a founding member and regular contributor to a number of economics weblogs, including Global Economy Matters, Demography Matters and a number of others. Edward 'the bonobo' Hugh is a Catalan economist of British extraction based in Barcelona. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again". He is currently working on a book with the provisional working title "Population, the Ultimate Non-renewable Resource". Edward also writes regularly for the demography blog Demography Matters. He also contributes to the Indian Economy blog . His personal weblog is Bonobo Land . Edward's website can be found at EdwardHugh.net. Edward follows in detail the Indian, Italian, Spanish, German and Japanese economies. He also has a more than a passing interest in the economies of Turkey and Brazil and in the emerging economies of Eastern Europe. |
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