German unemployment at 14-year low
Germany’s jobless rate fell to 8.8% in September, its lowest level in over 14 years, showing Europe’s largest economy is in good health despite financial market turmoil and a strong euro.
Unemployment fell for the 18th month running, the Federal Labor Office said on Thursday, with the seasonally adjusted jobless total falling 50,000 to 3.694 million. A Reuters poll had pointed to a smaller monthly decline of 20,000. The fall in the seasonally adjusted jobless rate to 8.8% from a downwardly revised 8.9% in August took it down to the lowest level since June 1993. Today’s figures are a further boost for Chancellor Angela Merkel’s coalition government, which made cutting unemployment a priority when it took office in late 2005. A robust economic recovery has helped the jobless total fall steadily from a post-war high above 5 million in early 2005. Despite falling unemployment, German consumer spending has remained weak, and was dealt a blow in January by a 3 percentage point sale tax hike. (ireland.com)
ADVERTISEMENT
Hungary Inflation Rate at 21.5% in May
Parl't Approves Amendments to Legislation on Judiciary
Industrial Production Declines in April
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
