German unemployment rates hit record low at end of 2011
January 3, 2012
Germany's unemployment levels are the lowest they have been in years, and the nation's economy is expected to continue grow in 2012, albeit slower than last year. According to the BBC News, December saw the unemployment rate fall from 6.9 percent in November to 6.8 percent last month. This is the lowest unemployment level since the Federal Labour Office began tracking this data in 1991.
"Germany's manufacturing and export-driven economy finished the year strongly - piling on another 22,000 jobs in December," market analyst Anthony Cheung told the news source.
People who have found jobs outside of the country may be considering coming back home for work. They can save money on calls to Germany by using international phone cards to contact potential employers. However, economists are projecting a dramatic slowdown in economic growth in 2012 as other European nations catch up. Some experts believe this could put a damper on unemployment rates and wages, but others point out that more than half of Germany's working-age population is employed, which is a sign of the nation's success in recent years.