Tags: Cold Spell Sparks Unexpected Rise in German Jobless

Cold Spell Sparks Unexpected Rise in German Jobless

Tuesday, 04 Jan 2011 07:35 AM

Unemployment fell in Germany in 2010 as the nation's economy saw a robust recovery, despite a slight increase in the number of jobless for December, the Federal Labor Agency said Tuesday.

The Nuremberg, Germany-based agency said that 3.016 million people were unemployed in December, an increase of 85,000 compared with November, and largely attributed to the early onset of freezing temperatures and snow.

That brought the jobless rate to 7.2 percent, up 0.2 percent compared with November.

Although the number of jobless rose above the 3 million mark — breached in October for the first time in two years — the December figure is 260,000, lower than in the same month of 2009.

"Compared with the crisis year of 2009, the number of jobless has dropped," said agency director Frank-Juergen Weise.

On the year, 3.244 million Germans registered for unemployment benefits, 179,000 fewer than in 2009, the agency said.

The German economy, Europe's biggest, has rebounded strongly this year as increasing exports in a recovering global economy have been accompanied by signs of improving domestic demand.

German business confidence ended 2010 on a high, defying economists' expectations and further pointing to a recovery that is expected to continue into the new year. The government has predicted growth of 3.4 percent for 2011.

German Economy Minister Rainer Bruederle welcomed the 2010 jobless numbers as proof of solid growth.

"The past year on the job market was a success," Bruederle said in a statement. "The strong growth helped employment to reach a historic high, driving the number of jobless below the 3 million mark."

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Unemployment fell in Germany in 2010 as the nation's economy saw a robust recovery, despite a slight increase in the number of jobless for December, the Federal Labor Agency said Tuesday. The Nuremberg, Germany-based agency said that 3.016 million people were unemployed in...
Cold Spell Sparks Unexpected Rise in German Jobless
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2011-35-04
Tuesday, 04 Jan 2011 07:35 AM
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