German unemployment
July 30, 2009While there were 52,000 new people without work in July compared to June, for a total of 3.462 million, the seasonally adjusted figures showed a drop of 6,000. Year on year, however, the number of unemployed was 252,000 more this July, with the unemployment rate rising to 8.2 percent from 7.7 percent. The rate jumped 0.1 percent this last month.
"The recession in the German economy also made its mark on the German labor market in July," said Frank-Juergen Weise, chairman of the Federal Labor Agency.
"However, overall the effects of the downturn have so far have been comparatively moderate," he said. "In particular, the significant use of reduced-hour scheme has stabilized the job market."
The reduced-working-hours to which Weise referred is a government scheme to partially make up for the shortfall for workers with reduced hours, helping companies save money without laying off massive numbers of employees.
hf/AP/dpa
Editor: Chuck Penfold