Stagnating German economy adds 50,000 to dole queues
2 December 2004, NUREMBERG - Germany's weak recovery from a protracted period of economic stagnation has failed again to boost hiring in Europe's biggest economy with unemployment edging up again in November.
2 December 2004
NUREMBERG - Germany's weak recovery from a protracted period of economic stagnation has failed again to boost hiring in Europe's biggest economy with unemployment edging up again in November.
Data released by the Federal Labour Agency on Thursday showed Germany's unadjusted unemployment rose by 50,800 in November to reach 4,257,300 - 10.3 percent of the workforce.
The figure was 73,700 higher than in November last year with the latest jobless tally pushing the official unemployment rate up from the 10.1 percent measured in October, the office said.
Seasonally adjusted jobless figures also increased by 7,000 to 4.464 million. The office noted that the rise was not as strong as during the previous three months.
Labour office chief Frank-Juergen Weise said there were clear signs that demand in the domestic economy is recovering. But the economic growth is still not yet strong enough to give any positive boost to the labour market, he said.
Unemployment in western Germany increased by 34,500 to 2,726,900 for a rate of 8.3 percent. The figure was 61,800 higher than in November 2003.
In eastern Germany, unemployment rose to 17.7 percent with a rise of 16,300 jobless to reach 1,530,400. The figure was 11,800 higher than in November last year.
[Copyright DPA with Expatica]
Subject: German news