BERLIN (MNI) – German Labor Minister Ursula von der Leyen said
Thursday that due to the risks from the Eurozone debt crisis the broad
upward trend in Germany’s labor market has ended.
German seasonally-adjusted unemployment rose by 7,000 in June, the
Federal Labor Office said earlier today.
“There is no broad-based positive trend any longer given the risks
from the Eurozone debt crisis,” von der Leyen said at a press conference
here.
The minister acknowledged that moderating German GDP growth was
beginning to dampen the labor market. Still, the June unemployment rise
“is no sign of a trend reversal,” she reckoned.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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