German labour market remains under pressure

2nd September 2004, Comments 0 comments

2 September 2004 , NUREMBERG - Germany's job market presented a mixed picture in August, with joblessness rising slightly on a seasonally adjusted basis but dropping on an unadjusted basis, officials reported Thursday in Nuremberg. The Federal Labour Agency said after seasonal adjustments, unemployment in Europe's largest economy rose by 24,000 to 4.414 million. That is more than the 10,000 increase that analysts had forecast.The rise resulted from 18,000 more jobless numbers in western Germany and 6,000

2 September 2004

NUREMBERG  - Germany's job market presented a mixed picture in August, with joblessness rising slightly on a seasonally adjusted basis but dropping on an unadjusted basis, officials reported Thursday in Nuremberg.

The Federal Labour Agency said after seasonal adjustments, unemployment in Europe's largest economy rose by 24,000 to 4.414 million. That is more than the 10,000 increase that analysts had forecast.

The rise resulted from 18,000 more jobless numbers in western Germany and 6,000 more in the east, the office said.

The unadjusted figures on the other hand showed a slight improvement, with joblessness in August falling by 13,400 to 4,346,500.

The slight decrease left the unemployment rate unchanged at the same 10.5 per cent figure as in July. The figure was 30,900 higher than in August 2003 levels.

The unadjusted jobless figure included 2,764,300 unemployed in western Germany, up 4,700 from July for an unchanged rate of 8.4 percent. In eastern Germany, joblessness fell by 18,100 to 1,582,200 to lower the rate to 18.3 per cent, from July's 18.5 percent.

Labour office head Frank-Juergen Weise attributed the slight decline in August to the usual upturn in the early autumn which sets in when the summer holiday season ends.

The growth now being registered in the overall economy was still not yet having an impact on the job market, he added. Weise said developments in the economy usually have a delayed effect on jobless figures.

Weise noted that if those people who are now undergoing job training had been included in the jobless figures, then the August unemployment toll would have been 110,200 higher. Since the start of this year these people have not been included in the jobless lists.

Coinciding with the Nuremberg office report, the Federal Statistics Office in Wiesbaden said that the number of job-holders in June rose by 58,000 to 38.24 million. The figure was 122,000 lower than in June 2003.

DPA

Subject: German news

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