Despite the recent surge in German GDP and export growth, and the ongoing structural reforms, German unemployment remains stubbornly high.
German unemployment was unchanged in May at close to a post-World War II high, dealing a blow to Chancellor Gerhard Schroeder’s chances of re-election.
The jobless rate, adjusted for seasonal swings, held at 11.8 percent, close to the postwar record of 12 percent recorded in March, the Nuremberg-based Federal Labor Agency said today. That was in line with the median of 31 forecasts by economists in a Bloomberg survey.
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Feed: A Fistful of Euros
May 31st, 2005 at 5:39 pm
The gist is right, but what the “real” numbers are, no one knows. Statistical changes have made those numbers a weapon in politics. But they are hardly a real source of information anymore.