— Sep +9k, Aug +1k, Jul +33k, Jun +48k, May +38k, Apr +54k, Mar +33k
FRANKFURT (MNI) – Employment in Germany rose for the 19th straight
month in September, reaching a new record high, while the jobless level
continued to contract, the Federal Statistical Office reported on
Wednesday.
Taking into account downward revisions for both August and July,
the 9,000 rise in the number of gainfully employed brought the total to
41.074 million, though reduced the average monthly growth rate since
February 2010 to 42,842.
Unemployment, as measured in ILO terms, fell by 30,000 persons in
September to 2.44 million. As a result, the jobless rate fell 0.1
percentage point to 5.8%.
The employment outlook remains “good”, the Ifo institute reported,
as reflected by its Employment Barometer recovering slightly in
September after hitting an 11-month low. “The personnel plans of the
companies indicate that employment growth in Germany will continue,” Ifo
said.
While companies continued to hire in October, falling demand and
reduced workloads have weighed heavily on job creation. Firms polled in
the latest PMI reported employment growth moderating to 14-month lows,
with slower rates of job creation seen in both manufacturing and
services.
Outside of services, employment expectations were revised lower
across the private sector in October, though remain above the long-run
average, the European Commission reported.
Mirroring the fall in firms’ future hiring intentions, households’
jobless fears intensified in October, rising to their highest levels
since mid-2010.
At 8:55 GMT today, the Labour Ministry is scheduled to release
seasonally adjusted jobless figures for October.
— Frankfurt bureau: +49 69 720 142: email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$]
