german unemployment rises in october
Last Updated : GMT 19:27:57
Arab Today, arab today
Arab Today, arab today

German unemployment rises in October

Arab Today, arab today

Arab Today, arab today German unemployment rises in October

Berlin - AFP

Unemployment in Germany rose in October, amid signs that the labour market is increasingly feeling the pinch from the eurozone debt crisis, official data showed on Tuesday. The jobless rate, both in raw and seasonally adjusted terms, was unchanged in October from September, the Federal Labour Agency said in a statement. In raw or uadjusted terms, the jobless rate was steady at 6.5 percent and in seasonally adjusted terms -- which irons out usual seasonal fluctuations -- it stood at 6.9 percent. The basic numbers showed diverging trends. The total number of people registered as unemployed was down in raw or unadjusted terms, fell by 34,889 to 2.753 million. But in seasonally adjusted terms, the jobless total rose by 20,000 to 2.937 million, as Europe's recession increasingly makes itself felt in the region's top economy. "So far, the German economy remains on a shallow growth path, despite the unfavourable conditions," said agency chief Frank Weise. "The labour market has so far remained comparatively robust to the deterioration in the economy. But the negative effects are there. As the year-end approaches, it will become more difficult for Germany to remain untouched by Europe's recession," Weise said. Analysts, too, said the German labour market appeared finally be to running out steam. "The 'labour market miracle' many observers had proclaimed is likely to continue taking a breather for now, in view of the poor economy," said Commerzbank economist Eckart Tuchtfeld. "Only in the second half of 2013 do we expect the trend to point up again." Berenberg Bank economist Christian Schulz agreed. "Unemployment could rise further over the next few months, given that the labour market usually reacts to the economic cycle with a lag. "The downtrend will probably only resume once the economy leaves the current period of stagnation and starts growing again early next year," he said. ING Belgium economist Carsten Brzeski pointed out that the strong labour market had been one of the main drivers of German growth in the first half of the year. "Looking ahead, however, it is doubtful whether private consumption can really take over the baton as main growth driver for the German economy," he cautioned. "Today's numbers provide further evidence that the labour market is gradually losing steam, indicating the cushioning impact on the economy should peter out in the coming months. "However, the lack of qualified employees and still strong labour demand in domestic sectors should make the current slowdown a very gentle one," the expert said. Christian Ott at Natixis said that with the German economy slated to contract slightly in the fourth quarter, "a turnaround of the labour market is not expected before mid-2013." Newedge Strategy analyst Annalisa Piazza said companies were staying cautious in their hiring plans as the crisis causes profits to shrink and "looking ahead, we expect the German labour market to continue to deteriorate." UniCredit analyst Alexander Koch was less pessimistic, however. "The current stronger-than-expected rise in official unemployment is still no confirmation that the German labor market eventually entered a downswing," he said, arguing that much of the deterioration was likely due to the phasing out of labour market relief measures. "The resilient labour market is continuing to support private spending," as seen in the recent rise in the key GfK consumer confidence index, Koch said. Last week, the GfK index rose to the highest level for five years on the back of rising income expectations.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german unemployment rises in october german unemployment rises in october

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german unemployment rises in october german unemployment rises in october

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday