German Unemployment Rose in July

The ongoing for years job boom in Germany is weakening. In July, unemployment has risen zufolgen experts. Reasons: the weak economy and the euro debt crisis.
July 31, 2012 - PRLog -- Economists of major German banks expect that in July, about 2.87 million people were without jobs in this country. That would be about 65,000 more than in June, but still almost 70,000 less than a year ago, the experts explained. The official figures will announce the Federal Employment Agency (BA) this Tuesday.
Reason for the continuation of the slight downward trend in addition to the weak economy is also the uncertainty of many companies because of the euro debt crisis, economists explained. As a result, unemployment has risen slightly more than usual start to the holiday usual.

A rise in unemployment in July is not unusual. On the one hand, many young people finish their education and have a couple of weeks to bridge up to the start of a new job. Second, many companies are hiring new employees move to the end of the working holiday. But even without these seasonal effects, the number of unemployed in July, according to experts 5000-15000 would be increased. Such increases usually indicate that influence the decrease of the economy on the job market.
Source:Associated Foreign Press
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