–Adds Unemployment Fcasts By Econ Minister To Story Sent At 04:09 EDT
SA Unemployment: -37k (pan-German), -26k (West), -11k (East)
MNI survey median: -40k m/m
MNI survey range: -50k to -20k m/m
—
FRANKFURT (MNI) – The ranks of the unemployed in Germany declined
for the 14th consecutive month in April, albeit slightly less than most
analysts had expected, the Federal Labour Office reported on Thursday.
The number of persons actively searching for work fell by a
seasonally adjusted 37,000, lowering the overall level to 2.970 million
or 7.1% of labor market.
In unadjusted terms, the jobless rate dropped to 7.3% from 7.6% in
March, reflecting a drop of 32,000 persons to 3.078 million.
Economics Minister Rainer Bruederle said today he expects that
unadjusted unemployment will fall below three million soon. The minister
said he was also convinced that annual average unemployment in 2011 will
be below three million for the first time since 1992.
Job vacancies rose 13,000 in April after having increased by 9,000
in March. Payroll jobs, data for which have a lag of one month, rose
38,000 after +37,000 in February.
The purchasing managers’ index (PMI) signaled further growth of
staffing levels in April at nearly the record pace seen in March,
extending the run of increases to 14 months, as both manufacturing and
services added workers.
Reflecting the robust labour market in the Eurozone’s largest
economy, a European Commission survey noted a decline in jobless fears
in Germany in March.
A GfK consumer sentiment report also pointed to growth in
employment, which, along with the “excellent economic situation,” is
helping to ease employment worries and keep buying propensity at a high
level.
“This gives consumers planning security, particularly for larger
purchases, and is currently preventing a downward slide in the
propensity to buy as a result of rising inflationary pressures,” GfK
said.
— Frankfurt bureau: +49 69 720 142, email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,MAGDS$,M$X$$$,M$XDS$,MT$$$$]
