Compared to the United States (even with the correction that Germany has four times fewer people), the situation looks sharply better, according to which we often hear about the loss of 40 million jobs in three months. But in economics, one series is often compared to itself. And here is an alarming situation.
Germany’s labour market has got new 310K unemployed for seven months to June 2009, and that year GDP fell by 5.6%. Now in two months, the growth of the unemployed is almost twice as big.
The FxPro Analyst Team