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| Europe |
| German unemployment hits 5m (12.1%) |
| 2005-02-02 |
| Germany's unemployment figure rose above the psychologically important level of five million last month. On Wednesday, the German Federal Labour Agency said the jobless total reached 5.037 million in January, which takes the jobless rate to 12.1%. Unemployment has not been this high in Germany since the 1930s. Changes to the way the statistics are compiled, partly explain the jump of 572,900 in the numbers. But the figures were embarassing for the government. "With the figures apparently the worst we've seen in the post-war period, these numbers are very charged politically," said Christian Jasperneite, an economist with MM Warburg. "They could well put an end to the recent renaissance we've seen by the SPD (the ruling Social Democrats) in the polls, and with state elections due in Schleswig-Holstein and North Rhine-Westphalia, they may have an adverse effect on the government's chances there," he added. The European Economic Way continues in its losing War With Reality. |
| Posted by:Bulldog |
| #8 Maybe they should hire more policemen -- the current batch must be feeling overworked ;-) |
| Posted by: trailing wife 2005-02-02 8:36:21 PM |
| #7 Hey! That's sex industry professionals! |
| Posted by: Sobiesky 2005-02-02 2:18:35 PM |
| #6 Well, lots of opportunity for prostitutes. |
| Posted by: anonymous2u 2005-02-02 2:05:30 PM |
| #5 Bush's fault, obviously. |
| Posted by: Chris W. 2005-02-02 12:42:46 PM |
| #4 Think maybe kamrade will nicely ask some of the 10 million Turks gastarbeiter to pack up and go home. Nope don't think so. |
| Posted by: Old Fogey 2005-02-02 9:14:39 AM |
| #3 More than economic decline it indicates an intellectual and moral decline. Everyone knows that this problem is the resuolt of restirctive labor laws that punish employment. But the Germans do not have the moral courage to face this reality and spread the risks inherent in life broadly. Instead they focus them on a minority left in hopelessness. Shameful. |
| Posted by: Mrs. Davis 2005-02-02 8:30:27 AM |
| #2 This is a very bad number and charts the economic decline of Western Europe's power economy. 2005 is going to be a very unstable year - Germany goes into Japan style deflation. |
| Posted by: phil_b 2005-02-02 7:27:03 AM |
| #1 And that isn't counting all those kids staying in university until they are well into their 30's, or the majority of women who never have/will hold a job in their lives. |
| Posted by: trailing wife 2005-02-02 6:37:05 AM |