Germany’s economy to revive job market
by FFE EU News staff
With the German economy on its way to stable growth, a projected 235,000 jobs are expected to be created this year and 180,000 next year.
The German Economy Ministry forecasted unemployment to hit 6.9% by the end of the year and fall to 6.8% next year.
Outgoing Economy Minister Philipp Rosler.
Outgoing Economy minister Philipp Rösler said ‘The foundations of this growth are economic forces at home: the mood of German companies is good, they are again investing more in equipment and construction. Employment and income are growing significantly and bolstering private consumption.’
2014 may also see a significant boost in consumer spending as household disposable income jumps from 2.1% to 2.9%. Meanwhile, Gross Domestic Product will grow by 0.5% this year and 1.7% next.
Rösler, a member of the ousted party Free Democrats, is due to be replaced as chancellor Angela Merkel’s grand Christian Democrat and Social Democrat coalition starts negotiations.