Germany’s Jobless Rate Drops to 20-Year Low
Posted on Jan 3, 2012
If only we could import a little bit of Germany right now—in a good way. Unlike many of its European neighbors, Germany is enjoying a bit of an economic boost in that its unemployment rate dropped to a record low for the month of December. That said, it’s not as though the country is immune to the impact of the ongoing global financial crisis, and the 2012 forecast for Germany isn’t all free and clear, but it still sounds pretty good from where we sit. —KA
German unemployment fell to its lowest rate in December since 1991, according to the German Federal Labour Agency.
The adjusted jobless rate fell to 6.8% from 6.9% in November, the Federal Labour Office said.
This marked a new record low since figures for unified Germany were first published.
The seasonally-adjusted total for the number of people out of work in Germany fell 22,000 to 2.88 million in December.
[...] Leading economists expect Germany’s economic growth to slow in 2012, however, in line with other major eurozone economies, which may put a squeeze on wages and jobs.