Berlin Property for Sale
A web resource for UK and Irish buyers looking to invest in Berlin propertyBerlin Property for Sale
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| Extraordinary fall in German jobless. | ||
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10 February
2007 Financial Times |
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Unemployment
in Germany recorded another steep monthly drop in December, underscoring
the robustness of the year-old rebound under way in Europe's largest
economy.
Seasonally adjusted figures released by the Federal Labour Agency on Wednesday put the number of jobseekers in Germany at 4.1m, down 108,000 on the month, a far bigger drop than economists had anticipated after a 86,000 fall in November. The "extraordinary fall in unemployment", as described by the Agency, put the unemployment rate in the country at 9.8 per cent. |
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| "These
figures are considerably better than expected and underpin the view
that the recovery in Germany has become self-sustaining," Elga
Bartsch, economist at Morgan Stanley, said. The data, following
very upbeat business sentiment surveys at the end of December, will
buttress the view shared by a majority of economists that the strong
German recovery will last well into 2007. The closely followed Ifo
business sentiment index surged to a 16-year high last month after
notching up the fastest growth last year since the start of the
decade. The German economy is expected to have grown by 2.5 per
cent in 2006, exceeding French growth for the first time since 1994.
"The positive development in unemployment is mainly down to the cyclical rebound in job creation," the Labour Agency wrote in its monthly report. In November, the latest month for which employment data was available, the Agency recorded 46,000 job creations, bringing the total number of positions created in the past year close to half a million. |
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