Germany doesn’t appear to be engulfed in the type of economic woes being experienced in Greece , Italy, France, the United States and much of the rest of the world, in fact Germany unemployment rates were announced this week and they have hit an all-time low since the reunification of the country.
According to reports only 6.8% of German citizens are out of work, thanks in large part to a huge number of exports to China and an unseasonable warm time of year which has allowed German construction company’s to keep working with record profits in hand.
The Chief of the government’s labor agency is both proud and skeptical of the countries unemployment rate, telling the New York Times :
“German unemployment mastered the dual impact of the debt crisis and weakening economic growth in 2011, but these risks remain, accompanying us as we enter the new year.”
In fact the jobless rate is so low in the country that nearly half a million jobs have yet to be filled.
According to Bloomberg:
“The number of people out of work fell a seasonally adjusted 22,000 to 2.89 million, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 10,000, the median of 20 estimates in a Bloomberg News survey showed. The adjusted jobless rate dropped to 6.8 percent.”
The unemployment rate was helped along by some of the countries biggest and most well known company’s including Audi AG which will add 1,200 new jobs in 2012 along with Airbus SAS which makes the A380 superjumbo jet in Hamburg, Germany. Airbus says they will hire 4,000 more workers in 2012.
In fact in Hamburg alone 42 percent of large workforce suppliers said they would increasing hiring in 2012.
Are you surprised to learn that the German economy has gone nearly unaffected during a near global meltdown of the financial markets over the last three years?
