Rösler: Job market is continuing its success story
The latest figures on Germany's labour market were published today by the Federal Statistical Office and the Federal Employment Agency. Responding to the report, Federal Minister of Economics and Technology Dr. Philipp Rösler stated:
"The job market is continuing its success story. At the end of the year, it has shown itself to be in extraordinarily good shape. The year 2011 can be seen as by far the most successful year for employment since the reunification of Germany. Firstly, the number of people in employment was considerably higher even than the previous year. Secondly, the level of earnings per employee increased significantly. Price development has been moderate and the disposable income of private households has therefore risen considerably. At the same time, the average annual unemployment figures for 2011 were at their lowest level since 1991.
Demand for labour in Germany is still very high, notwithstanding the current economic risks. Overall, the growth in employment should continue in the coming months, even if it is a bit slower. The job market therefore remains an important cornerstone of our economy."
As reported today by the Federal Statistical Office, roughly 41.61 million persons resident in Germany (domestic concept) were employed in November 2011. This was 521,000 more than in November 2010. Compared to the previous month, the number of persons employed grew by 25,000 (seasonally adjusted).
The number of persons subject to social insurance contributions rose in October to 29.02 million - 719,000 more than in the preceding year. This represented an increase of 56,000 over the previous month (seasonally adjusted).
According to Federal Employment Agency data, the number of registered unemployed stood at 2.780 million in December. This was 67,000 fewer than the month before. Overall, unemployment was down by 231,000 on the previous year. In seasonally adjusted terms, the number of unemployed in December was down by 22,000 against the previous month.
For 2011 as a whole, employment levels rose by 541,000 over the previous year, settling at 41.09 million. Average figures for unemployment dropped to 2.98 million - their lowest level since 1991.