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Unemployment in Germany

Unemployment in Germany. Frederike Wittmann Quarter 4 2011-2012. 1. A relatively low youth unemployment rate represents hope for the German labor market. The reason is because of Germany's dual system of vocational training.

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Unemployment in Germany

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  1. Unemployment in Germany • Frederike Wittmann • Quarter 4 • 2011-2012 1

  2. A relatively low youth unemployment rate represents hope for the German labor market. • The reason is because of Germany's dual system of vocational training. • Vocational training is preparing students for trade or craft jobs with specific tasks. (i.e. Blacksmith) • In the meantime, however, vocational training is losing importance. • Nevertheless, Germany´s youth unemployment rate is still significantly lower than in France or Italy. 2

  3. This graph shows the unemployment rates of several nations, including Germany, for young adults aged 15-24. 3

  4. Unemployment Rates • Unemployment rates are down to 7.2% • There are 82,000 newly employed people in Germany. • Germany is the “euro-zones” strongest economy. • Germany’s unemployment rates are below the accepted 10.1% meaning they are in a good position. • “There will always be a need for workers,” said the head of the head of the Federal Labor Agency in Germany 4

  5. An example of newly formed jobs for those who were previously unemployed. 5

  6. Trends for Unemployment • The positive trend is not likely to continue according to Gustav Horn. • Gustav Horn is the director of the union of IMK (Institute for Macroeconomic Policy) • He expects the unemployment numbers to rise in the first half of the year. • Economists in Germany expect an average of 3.03 million germans to be unemployed by the end of this year. • However, the German government is optimistic about the future of Germany’s work force. 6

  7. This map shows how Germany’s unemployment is spread out over the country by region and district. It is clear that there is still a higher rate of unemployment in the east as compared to the west. 7

  8. Quiz 1) What percent of Germans are unemployed? A) 5% B) 10% C) 7.2% D) 6.8% 2) According to the head of the Federal Labor Agency, there will always be a need for _________? A) funding B) workers C) inventions D) new offices 8

  9. Answers! 1) C; Currentyly, 7.2% of Germans (between the ages of 15 and 24, are unemployed. 2) B; “There will always be a need for workers,” --Head of the Federal Labor Agency 9

  10. Works Cited • http://www.irishtimes.com/newspaper/breaking/2012/0329/breaking18.html • http://www.staffingindustry.com/eng/Research-Publications/Daily-News/Germany-Economists-expect-unemployment-rate-to-increase-again-in-2012 • http://www.dw.de/dw/article/0,,15846172,00.html?maca=en-aa-top-861-rdf • http://www.indexmundi.com/germany/unemployment_rate.html 10

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