–Previous Results: Apr +58k, Mar +17k, Feb +11k, Jan -2k, Dec +55k
FRANKFURT (MNI) – The number of employed in Germany rose for the
third consecutive month in April, the Federal Statistical Office
reported on Tuesday.
Currently, 40.187 million are working, reflecting an increase of
58,000 (+0.1%) since March, as measured in International Labour
Organisation (ILO) terms.
Without factoring in seasonality, the number of employed was up
207,000 (+0.5%) on the month to 40.085 million. On the year, however,
the number was down 0.1%.
While Germany’s labour market remains resilient, rising labour
costs will likely lead firms to cut staff sometime in the near future,
the Organisation for Economic Co-operation and Development (OECD) warned
last week.
“However, even after taking some upcoming deterioration of the
labour market into account, the performance of the labour market during
the crisis remains exceptional in comparison with past recessions,” the
OECD said.
The unemployment rate for May is scheduled for publication at 7:55
GMT today. The median forecast of analysts polled by Market News is for
the jobless rate to remain unchanged at 7.8%.
— Frankfurt bureau: +49-69-720 142, email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$]