Job Market Monitor
Germany
Germany / Unemployment rises for an 8th month and adjusted jobless rate held at 6.9
German unemployment climbed for an eighth straight month in November as Europe’s debt crisis curbed company investment and economic growth. The number of people without a job increased a seasonally adjusted 5,000 to 2.94 million, the Federal Labor Agency in Nuremberg said today. Economists forecast a gain of 16,000, the median of 37 estimates in … Continue reading
Germany / The preferred immigration destination for highly skilled Hungarians
The migration bug at present biting disgruntled skilled workers in every European country has long been a feature in Hungary, with numerous highly skilled younger Hungarians leaving for Germany over the last 16 years. However, the rate at which talented young workers are leaving their home country has accelerated since 2007, with emigrant numbers up … Continue reading
Germany / Hochtief to cut 700 jobs
Hochtief plans to cut about 700 jobs because of weak orders at its construction and facility management business Hochtief Solutions in Germany, a weekly magazine reported. The jobs will be cut at the company’s offices in Hamburg, Berlin, Munich and the Rhein-Main region surrounding Frankfurt in 2013, Wirtschafts Woche, citing company sources, said in a … Continue reading
United States and the major European economies – Bouncing Back from the Great Recession
When the economic shocks that cause recessions in different economies have large common components, there may be lessons to be learned by studying how different economies respond write Thomas F. Cooley, B. Ravikumar, and Peter Rupert in Bouncing Back from the Great Recession: The United States Versus Europe in Federal Reserve Bank of St. Louis Economic Synopses (Adapted … Continue reading
Germany / Crisis Leads Skilled Workers from Southern Europe
Economic crisis and mass unemployment in Southern Europe have triggered an exodus of highly qualified jobseekers, many of whom are making their way north to Germany. There, a relatively strong economy and growing shortage of skilled workers makes companies eager to ensure that the newcomers feel welcome. Ziehl-Abegg, a mid-sized specialist in ventilation technology based … Continue reading
Germany – Commerzbank – Up to 6,000 jobs cut
Commerzbank, Germany’s second-biggest bank, is preparing to axe up to 10 percent of its workforce in the coming years, or 5,000-6,000 jobs, the weekly Die Zeit reported on Wednesday. Die Zeit, in a pre-release of an article to appear on Thursday, said Commerzbank is planning billions of euros in cost-cutting across all divisions between now … Continue reading
Germany – Employment growth looses momentum but unemployment still falls
In September 2012, a total of 41.8 million persons were in employment whose place of residence was in Germany, according to provisional calculations of the Federal Statistical Office (Destatis). The number of persons in employment was thus by 324,000 above the level of September 2011, which is an increase of 0.8%. Employment growth on the … Continue reading
ManpowerGroup’s Talent Shortage Survey : Talent is becoming the key competitive differentiator
“ManpowerGroup surveyed nearly 40,000 employers across 39 countries and territories during the first quarter of 2011 to gauge the impact of talent shortages on the global labor market. The results of the sixth annual Talent Shortage Survey reveal a modest upward trend in the percentage of employers having difficulty filling positions due to lack of … Continue reading
Germany – Growing more open to immigrants?
Studies show that increasing numbers of highly skilled immigrants are coming to Germany. They face a number of hurdles, but there are positive signs in the country’s changing attitudes toward them. “So, how’d you learn to speak German so well?” – It’s a question journalist and TV moderator Elif Senel hears all the time, despite … Continue reading
GM’s Opel -1,000 German admin jobs cut
General Motors’ (GM.N) ailing Opel business in Europe plans to thin its administrative ranks by 30 percent, or 1,000 jobs, in its Ruesselsheim headquarters in Germany, newspaper Frankfurter Allgemeine Zeitung reported on Wednesday citing two unnamed board members. The cuts would be made voluntarily, without resorting to compulsory layoffs, the paper added. Opel said in … Continue reading
Germany – Merck KGaA – To eliminate 1,100 jobs
German drug maker Merck KGaA is to eliminate one out of every 10 jobs in its home country. Merck said Tuesday it would cut 1,100 of the 10,900 positions in its home country. It signed an agreement with employee representatives about the cost cuts. The company will try to find the cuts through either not … Continue reading
Germany – Bosch – To shorten work hours
German industrial group Robert Bosch GmbH ROBG.UL is in talks with workers at its engineering unit, Bosch-Rexroth, to cut their work hours in response to weakening demand from industrial customers, a company spokesman said on Friday. Bosch-Rexroth is one of the world’s leading producers of drives, valves and control technologies, which are used in machine … Continue reading
Europe – The downturn has been under way for years
The euro zone is hurtling back into recession, economists declared after official figures this week portrayed a shrinking economy. But by some measures the downturn has been under way for years. With the exception of Germany, none of Europe’s biggest economies have returned to the level of economic output they had at the beginning of … Continue reading
German economic strength: Fewer hours, not particularly productive and less time at school
Imagine a country whose inhabitants work fewer hours than almost any others, whose workforce is not particularly productive and whose children spend less time at school than most of its neighbours. Hardly a recipe for economic success, you might think. But the country described above is none other than Germany, Europe’s industrial powerhouse and the … Continue reading
Germany – Employment rose by 1.2% and Unemployment Rate at 5.4%
According to provisional results of employment accounts, the number of persons in employment rose by 1.2% in June 2012 on June 2011. The growth rate thus was slightly lower than in the months February to May 2012 (+1.3%) and January 2012 (+1.4%). Compared with May 2012, the number of persons in employment was up by … Continue reading
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