— Feb +41k, Jan +94k, Dec +54k, Nov +76k, Oct +18k, Sep +30k, Aug +13k
FRANKFURT (MNI) – The number of gainfully employed in Germany
increased without fail for a full two years through February, even
though the jobless level rose for the second consecutive month, the
Federal Statistical Office reported on Thursday.
Employment expanded by 41,000 persons in February to 41.406
million, a new record high.
Although not enough to dislodge the jobless rate – currently at
5.7% – the number of persons unemployed rose by 20,000 to
2.42 million in International Labour Organisation terms, the statistics
office added.
The slowdown in job gains may well continue. The March PMI polls
showed employment growing at the weakest pace in two years (50.7), as
downsizing in industry offset most hiring in the services. Employers
cited concerns over the economic outlook and reduced workloads.
“Lower workloads in seven of the past eight months seem to be
catching up on private sector firms,” the PMI report said.
Nevertheless, while high oil prices, austerity programs in Europe
and a slowing Chinese economy represent downside risks to demand for
German goods, firms remain upbeat and intent on hiring, other surveys
show.
The Ifo institute’s employment barometre rose again in February,
showing that the German companies “are still planning to increase their
staff numbers.” Ifo’s March business survey showed manufacturing and
service firms planning to build up their workforce.
At 7:55 GMT today, the Labour Ministry is scheduled to release
jobless figures for March.
— Frankfurt bureau: +49 69 720 142: email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$]