— Jan +93k, Dec +55k, Nov +77k, Oct +20k, Sep +30k, Aug +14k, Jul +38k
FRANKFURT (MNI) – German employment extended its run of consecutive
increases to 23 months in January, reaching a new all-time high, though
unemployment rebounded at the same time, the Federal Statistical Office
reported on Wednesday.
Taking into account upward revisions over the past five previous
months, January’s 93,000 increase bumped the employment level to a new
record high of 41.368 million.
Over the same period, the ranks of the unemployment rose by 23,000
persons, lifting the jobless rate 0.1 percentage point to 5.8%.
Boosted by hiring plans in industry and construction, the Ifo
institute’s employment barometer recovered modestly last month after
slipping to its lowest level in over a year, indicating that “the
positive trend” in the German labour market continued into 2012.
The February PMI polls also signaled further growth in private
sector jobs, marking two full years of continuous expansion.
In its latest monthly bulletin, the Bundesank said the labour
market remains on course for growth, noting that employment continued to
expand in the last quarter of 2011 despite the downturn in economic
activity.
At 8:55 GMT today, the Labour Ministry is scheduled to release
jobless figures for February.
— Frankfurt bureau: +49 69 720 142: email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$]
