InfoAnda - German jobless total tops 3 mln for December

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap German jobless total tops 3 mln for December AFP - 1 hour 8 minutes ago Send IM Story Print German jobless total tops 3 mln for December BERLIN (AFP) - – The number of people without work in Germany rose in December for the first time in a year and a half, as the total number of jobseekers surged above three million, official figures showed on Tuesday. On a seasonally adjusted basis, the standard used by economists for comparisons, it was the first monthly increase since June 2009. Unadjusted data, the benchmark for public debate, showed that the jobless total soared by 85,000 to 3.016 million as cold temperatures crimped construction activity. The seasonally-corrected unemployment rate in December nonetheless remained at 7.5 percent, in line with an average analyst forecast established by Dow Jones Newswires. That is its lowest level since 1992. For 2010 as a whole, the unemployment rate fell to 7.7 percent amid strong economic recovery, the labour office said, and ministers insisted that even better results are within reach. The unemployment rate fell from 8.2 percent in 2009, and improvements were seen across the country and in all age brackets, the official figures showed. Germany, which has the biggest economy in Europe, has pulled out of its worst post-war recession and activity expanded last year by what might be the fastest rate since reunification in 1990. "The trend is good," Labour Minister Ursula Von der Leyen told a press conference in reference to unemployment that has been falling since mid 2009. Von der Leyen was "very confident" of continued improvement this year. Economy Minister Rainer Bruderle forecast "further improvement in the labour market this year," and said in a statement that full employment was within reach. Von der Leyen noted meanwhile that "the potential of people available for work is shrinking," in particular among the young, an issue highlighted by some business federations. Germany has benefited from increased global trade and domestic demand has also picked up as companies went ahead with investment plans and the number of unemployed fell steadily last year. The central bank has forecast economic growth of 3.6 percent for 2010, a post-reunification record, followed by further expansion of 2.0 percent this year. ING senior economist Carsten Brzeski noted that on average, almost 40.4 million people had a job in Germany last year, the highest level ever, and said the rise in unemployment last month would not halt the improving trend. "The winter weather could delay a further improvement but will not stop it," Brzeski said. "Recruitment plans are still improving and vacancies are at the highest level since 2007," he added. "Flexibilisation on the labour market (e.g. variable working hours and opt-out clauses in pay agreements) and wage constraint have enabled this 'miracle'," Commerzbank economist Eckart Tuchtfeld said. Recommend Send IM Story Print News Search Top Stories German jobless total tops 3 mln for December Grey skies mar views of solar eclipse European stocks rise, FTSE starts with a 'bang' Spain's ACS snaps up stake in German builder Ivory Coast rivals agree to meet More Top Stories » ADVERTISEMENT Most Popular Most Viewed Falling blackbirds baffle Arkansas officials Hasta la Vista: Arnie quits as California governor Spain lotto winner nearly loses millions by tossing tickets Goldman deal 'values Facebook at $50 billion' Online travel firm Expedia drops American Airlines More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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