All My Thoughts

Germany: fall of partial unemployment

The upturn in Germany is confirmed. Companies recall their employees they had laid off part to address the improvement of controls. In fact, the country should rely only 100,000 people unemployed part-year end as against 1.4 million at the height of the crisis in 2009, according to the Federation of Chambers of Commerce and Industry. Compared to April, unemployment fell 0.1 percentage points to 7.7% in the month of May However, we could not attribute this decline in unemployment to the only upturn in the industry says Catherine Stephan, an economist at BNP Paribas. Indeed, the employment level remains below 4% at its pre-crisis. The decrease in the number of unemployed is also the result of strong job creation in the services sector. Still, these jobs are mostly part time and therefore not paid.

• Job creation slows in the U.S.
• The growth in business services continues to slow
• The growth of the French private sector slowed in March
• The unemployment rate declined to 6.7% in March in Germany
• 115,000 jobs created in April in the U.S., the unemployment rate to 8.1%