— Feb +43k, Jan +37k, Dec +50k, Nov +41k, Oct +9k, Sep +18k
FRANKFURT (MNI) – The German labour market continued to expand in
February, as the number of employed hit a new record high, the Federal
Statistical Office reported on Thursday.
Taking into account the upward revisions to previous months,
March’s 43,000 increase brought the level of registered employment to
40.641 million in International Labour Organisation (ILO) terms.
Germany’s labour market remains the envy of the Eurozone, with
nearly 40,000 jobs created on average each month since January 2010.
Recent indicators continue to point to dynamic hiring in the near
term. The European Commission’s March business survey showed employment
expectations well above average in all major sectors. The improvement in
industry was especially strong, as the sub-index hit a record high.
Manufacturers polled for Markit Economics’ purchasing managers
index (PMI) in March pointed to the ongoing increase in work backlogs as
the main reason behind the rise in staffing levels. Combined with
further growth in service sector jobs, the overall PMI employment index
hit its highest level in the survey’s history.
This “highlights continued confidence in the underlying outlook for
business activity,” said Markit senior economist Tim Moore.
At 8:55 GMT today, the Labour Ministry is scheduled to release
seasonally adjusted jobless figures for March.
— Frankfurt bureau: +49 69 720 142: email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$]
