FFE Magazine

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.



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