Thursday, June 28, 2007

German Employment May 2007

The latest employment data is out at the German Statistical Office.

The following chart shows the general trend:

Here is the press release:

Supported by the favourable short-term economic trend, the job growth continues which has been observed in Germanyfor about a year now. According to preliminary results of the Federal Statistical Office, in May 2007 there were some 39.4 million persons in employment whose place of residence was in Germany. That is 478,000 (+1.2%) persons more than one year earlier in May 2006.

The employment/population ratio, that is the share of persons in employment in the total population aged 15 to 64 years, was 69.9% and thus 1.4 percentage points higher than one year earlier.

In a year-on-year comparison from April to May 2007, the number of persons in employment was up by 136,000 (+0.3%). When seasonally adjusted, that is upon elimination of the typical seasonal fluctuations, that is an increase by 14,000 persons against the previous month, after rises by 30,000 persons in April and 67,000 persons in March 2007. The slowing down of the seasonally adjusted increase was partly due to the favourable employment trend in the winter months owing to the mild weather.

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