–Previous Results: Mar +12k, Feb +16k, Jan +20k, Dec +35k, Nov -1k
FRANKFURT (MNI) – The ranks of the employed continued to grow in
March, extending the number of consecutive seasonally adjusted increases
to four months, the Federal Statistical Office reported on Thursday.
As a result, the 12,000 rise left 40.115 million employed in
Germany, as measured in International Labour Organisation (ILO) terms.
Without taking seasonal trends into account, the number of employed
increased by 114,000 on the month to 39.878 million. Compared to March
2009, however, that number was down 138,000, or 0.3%.
While the German “mini job miracle” continues, employment is
unlikely to maintain its upward trend. As demand recovers, companies are
more apt to extend working hours of those already on staff than take on
new personnel.
Net new hires in Germany will occur “at the earliest in 2011, but
more likely in 2012,” the head of Germany’s Agency for Labour (IAB),
Frank-Juergen Weise, predicted.
The unemployment rate for April is scheduled for publication at
7:55 GMT. The median forecast is for the jobless rate to remain
unchanged at 8.0%.
–Frankfurt bureau: +49-69-720 142, email: frankfurt@marketnews.com
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$,MT$$$$]
