EU Economy
German employment at record high
By Finfacts Team
Nov 27, 2014 - 11:18 AM

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The number of persons in employment in Germany rose to over 43m for the first time in October 2014. In October 2014, 43.006m persons resident in Germany were in employment according to provisional calculations of Destatis, the federal statistics office. Meanwhile the federal Labour Office (BA - Bundesagentur für Arbeit) said there were 2.717m unemployed people in November, 16,000 less than the previous month and 89,000 fewer than at the same time last year.

Destatis said that there was  an increase of 408,000 people or 1.0% on October 2013. In the months May to September 2014, the growth rate was stable at 0.9%. In October 2014, roughly 1.98m people were unemployed, 121,000 fewer than a year earlier. The unemployment rate was 4.7% according to the International Labour Office standard.

According to provisional results of the employment accounts, in October 2014 the number of persons in employment increased by 110,000, or 0.3%, on September 2014, which was due to the autumn upturn. On an average of the last five years, the increase in the number of persons in employment in October on the relevant previous month had been slightly lower (96,000 people). After seasonal adjustment, that is, after the elimination of the usual seasonal fluctuations, the number of persons in employment increased by 33,000, or 0.1%, in October 2014 compared with the previous month.

"In the golden autumn of October, the number of jobless people has dropped significantly. The current economic insecurities are not appearing in the job market," said Frank-Jürgen Weise, BA head .

Experts have been warning of a weakening German labour market, though the latest statistics show it to be more robust than thought.

There were 2.717m unemployed people in November, 16,000 less than the previous month and 89,000 fewer than at the same time last year.

The unemployment rate - a measure of the unemployed total against the working population as a whole - was steady at 6.6%  in seasonally adjusted terms, the office calculated.

In raw or unadjusted terms, the jobless total fell by 15,900 and the jobless rate was also unchanged at 6.3%.

The latest figures show that there are also 517,000 available jobs on the BA's job market. Demand is strong in the metalworking, transportation and logistics, sales and hospitality sectors.


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