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Germany registers drop in joblessness
By TII News Service
Nov 01, 2012 , Berlin |
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A considerable
drop in the number of unemployed people was seen over the previous month
in Germany, leaving the overall jobless rate unchanged at 6.5% estimating
that around 2.753 million people were out of work in October, down 35,000
from September, however when adjusted for seasonal factors, the number of
jobless rose 20,000 for an unemployment rate of 6.9% the same as September's
rate.
Germany's export-driven economy is in comparatively good shape as compared with the rest of the European Union nations, several of which are in recession. But the financial crisis is beginning to take its toll. It is doubtful whether private consumption can really take over the baton as main growth driver for the German economy.
The economy ministry this month cut its growth forecast for 2013 to 1% from 1.6%, though it increased this year's outlook slightly from 0.7% to 0.8%.The weaker economic developments are making themselves noticeable on the labour market. But overall the labour market remains robust and in good shape.
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