Tuesday, April 30, 2013

Deutschland Über Alles

Well, "über alles" is a bit of an exaggeration as there are other countries with even lower unemployment (including two other mainly German-speaking countries, Switzerland and Austria) and/or higher growth, but you get that sense when you on the one hand see how unemployment keeps rising in most other countries in Europe, yet in Germany it remains at 5.4%, the lowest in several decades. And this actually underestimates  the strength of the German labor market as the labor force participation rate keeps rising, and so the employment rate (in the age group 15 to 74) has increased from 63.3% to 63.9%-a new all time high


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