Germany was now hitting an ending trail. Their unemployment rate has now jumped to a total of 8.3 percent. This is the third straight rise and biggest increase in nearly four years as the fallout from the global slowdown hits Europe's biggest economy.
The numbers are now becoming more dramatic with each passing day. This past december economists said that the unemployment rate rising so much put 18,000 people out of work. They are now estimating that an additional 30,000 would be out of work by 2010.
Last year, the numbers reached a solid 40.3 million last year to reach the highest level since the German unification in 1990. This was when the government stepped in and tried to change the labour market by making getting a job more available.
Economists believe things won't look up until things get worse then they are. They believe that the unemployment rate will drop more then it did at the end of World War 2.
Wow, times seem tough over in Germany right now but unfortunately the Labor force unemployment rate is above 8.3 percent is the United States. Then again, the United States has a higher population than Germany so they might feel the effects of a slow economy more directly then us in the USA, just a guess. Anyways, I liked your post it was very informative plus you did a good job explaining the German economy after WWII in class, nice job.
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