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FRANKFURT (MNI) – The number of employed in Germany rose for the
fourth straight month in seasonally adjusted terms in May, though
slightly less than in April, the Federal Statistical Office reported
Wednesday.
In May, 40.26 million were working, reflecting an increase of
61,000 (+0.2%) since April, as measured in International Labour
Organisation (ILO) terms.
Without factoring in seasonality, the number of employed was up
147,000 (+0.4%) on the month to 40.232 million. On the year, the number
was up 0.1%.
Germany’s labour market remained remarkably resilient through the
crisis thanks to short-time work schemes that allowed many companies to
keep skilled employees in employment at reduced hours.
Now, as the economy has steadily recovered, with four straight
quarterly gains in GDP, a labour market recovery is also beginning to
take hold.
Germany’s industry association DIHK predicted earlier this month
that the number of employees in short-time work across the economy will
fall to 100,000 by the end of the year, versus 830,000 at the end of
March.
The national unemployment rate for June is scheduled for
publication at 7:55 GMT today. The median forecast of analysts polled by
MNI is for the jobless rate to remain unchanged at 7.7% and for the
number of seasonally adjusted unemployed to fall by 30,000.
— Frankfurt bureau: +49-69-720 142: email: frankfurt@marketnews.com —
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