Twitter
Advertisement

German companies looking to hire, says Labour Office

The seasonally adjusted unemployment total fell by 1,000 to 2.786 million, the lowest since unification in 1990.

Latest News
article-main
Representational image
FacebookTwitterWhatsappLinkedin

German companies are looking to hire more people, sending the Federal Labour Office's index of job openings to a record high in July, the agency said on Wednesday before July employment data due on Thursday.

With Europe's largest economy continuing to post steady growth rates, the labour office said companies in nearly all sectors are looking for new staff, and its new hires index climbed two points in July to a record of 192. The biggest gains were in services, especially in home care.

The office will report full data on Thursday. Last month, unemployment fell for the ninth month in a row, with the jobless rate holding steady at a record low of 6.4%.

The seasonally adjusted unemployment total fell by 1,000 to 2.786 million, the lowest since unification in 1990.

The German economy has been expanding steadily, if unspectacularly, since the middle of 2014 and the government expects it to grow by 1.8% this year.

By contrast, the independent Ifo Institute in Munich said its survey of employers showed companies' willingness to hire new staff had slipped slightly in July. "The positive dynamism seen in the employment market has weakened a bit," Ifo said.

Earlier this month, Ifo nevertheless raised its growth forecast for 2015 to 1.9% from its 1.5% target setin December.

The labour office said it expected demand for new hires to remain strong in the months ahead, even if it might not be enough to lead to a substantial reduction in the overall jobless level. The debate about Greece's possible exit from the eurozone and China's economic woes had created some uncertainty. 

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement