German jobs miracle: Federal Republic of Germany depends on the Rest of Europe with its labour market

The crisis countries in Europe are suffering also, around a decade later, still under the aftermath of the debt crisis. The views of the labour market and the N

German jobs miracle: Federal Republic of Germany depends on the Rest of Europe with its labour market

The crisis countries in Europe are suffering also, around a decade later, still under the aftermath of the debt crisis. The views of the labour market and the Numbers of the respective States for unemployment.

Although all the industrial countries suffered practically in the financial and economic crisis, a recession and a concomitant rise in unemployment, however, the situation in some southern European countries was particularly dramatic. The youth unemployment was at the peak of the crisis, in some cases up to 60 percent. A development, to fight under the these States until today.

The analysis of the auditing and consulting company EY, which is FOCUS Online. So official Figures on employment development and EY forecasts that, in spite of the good economic development, the number of unemployed on the continent, with a total of around 12.4 million people, is still higher than before the outbreak of the financial crisis in the year 2007. At that time, 11.8 million people are without employment, and thus, about 600,000 people were well less unemployed. PDF out of work? These are 10 things you need to know, Our PDF guide explains how you can apply for money and what else you need to know, if you become unemployed.To the PDF guide

Although the EY experts for 2020 is expected to decline to around 400,000 unemployed, the number of job-seekers thus also in 2020, higher than before the crisis.

unemployment gap between the North and the South is enormous

The have been surprised, given the fact that according to the study, since 2013, Europe-wide, around ten million jobs created. In the same year the employment in Europe was fallen to the lowest level in the crisis. In addition, there was in 2019, approximately 8.2 million more workers than in 2007.

However, have benefited from the job growth in the past few years, some countries and regions more than others. In particular, in Greece, Spain and Italy, the unemployment rate is still above the pre-crisis level.

"The gap between the North and the South is still very large. Some of the southern European countries have developed in the past years, but still a high rate of unemployment especially of young people for a lack of prospects, as well as social and political tensions,“ warns Hubert Barth, Chairman and CEO of EY Germany.

Germany and his job miracle

Germany is in this gap as the shining example in Europe in the first place. So have been created since the pre-crisis year of 2007 in Germany, approximately five million additional jobs – and twice as many as in all other Euro-zone countries.

In this context, the unemployment rate in Germany decreased by 5.4 percentage points to 3.1 percent. Of the Euro area countries, only Slovakia recorded a larger decline of 5.5 percentage points to 5.7 percent. PDF More content!

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But there are also in this country there is a (small) drawback: So will slow down according to the EY forecast in the coming year, in view of the economic maintenance of the development on the German labour market significantly. So the unemployment rate decreases in Germany expected to be only slightly from 3.1 to 3.0 percent. At the same time, the number of employees is expected to rise by only about 200,000, and that's not even half as strong as 2019.

framework for uncertainties in the labour market

A development that is expected to continue also in the whole of the Eurozone. EY according to the number of people in employment in 2020 will rise by only 0.6 percent – after a rise of 1.1 per cent in 2019.

all the same, With an unemployment rate of 7.3 percent in the Eurozone in the coming year, according to the forecasts, for the first time in the pre-crisis level of 2007 or even below.

"The difficult economic situation is taking its toll. The companies are more careful when it comes to creating new jobs; they wait to see how the demand develops. In the German industry, the recently reported declines in revenue, the Situation is very tense, International trade conflicts, a weakening Chinese economy and foreseeable technological changes bring great uncertainty“, says Bernhard Lorentz, Director of Government & Public Sector for Germany, Switzerland and Austria.

a negative trend could not be, according to the experts of EY, but the turning point for the labour market. Men want to remove Monster icicles - then the disaster takes its course PCP men Monster want to remove-icicles - then the disaster takes its course

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Updated Date: 01 January 2020, 01:00

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