GERMANY: GERMANY UNEMPLOYMENT RISES BY OVER HALF A MILLION TO A NEW POST-WAR RECORD
Record ID:
646884
GERMANY: GERMANY UNEMPLOYMENT RISES BY OVER HALF A MILLION TO A NEW POST-WAR RECORD
- Title: GERMANY: GERMANY UNEMPLOYMENT RISES BY OVER HALF A MILLION TO A NEW POST-WAR RECORD
- Date: 6th February 1997
- Summary: NUREMBERG AND FRANKFURT, GERMANY (FEBRUARY 6, 1997/FILE) (RTV - ACCESS ALL) NUREMBERG, GERMANY (FEBRUARY 6, 1997) 1. SV EXTERIOR FEDERAL LABOUR OFFICE 0.08 2. SV CHIEF OF FEDERAL LABOUR OFFICE, BERNHARD JAGODA, ARRIVING FOR NEWS CONFERENCE 0.19 3. SV JOURNALIST 0.23 4. SV JAGODA SITS DOWN/JOURNALISTS (2 SHOTS) 0.34 5. MCU JAGODA SAYING: "THE UNEMPLOYMENT IN GERMANY HAS REACHED FOUR MILLION SIX HUNDRED FIFTY EIGHT THOUSAND THREE HUNDRED. THIS MEANS THERE ARE 499 THOUSAND UNEMPLOYED MORE THAN A YEAR AGO.' (GERMAN) 0.53 6. CU CAMERA 1.00 7. MCU JAGODA SAYING: 'IN THE EASTERN PART OF GERMANY THE UNEMPLOYMENT ROSE BY 205 THOUSAND AND IN THE WEST BY 304 THOUSAND. IN BOTH, THE EAST AND THE WEST, TWO-FIFTHS OF THE INCREASE CAME FROM PEOPLE IN THE CONSTRUCTION INDUSTRY AND RELATED BRANCHES' (GERMAN) 1.34 8. PAN CONFERENCE ROOM 1.43 FRANKFURT, GERMANY (FILE) 9. SV UNEMPLOYMENT OFFICE 1.49 10.SLV/CU UNEMPLOYED PEOPLE IN THE UNEMPLOYMENT OFFICE (3 SHOTS) 2.06 Initials S3 P3 Script is copyright Reuters Limited. All rights reserved.
- Embargoed: 21st February 1997 12:00
- Keywords:
- Location: NUREMBERG, GERMANY
- City:
- Country: Germany
- Reuters ID: LVA36UXOICXNTGCC2QWTDM92CLQI
- Story Text: German unemployment rose by over half a million to a new post-war record of 4.66 million in January, it was announced in Bonn on Thursday (February 6).
Germany's Federal Labour Office said the unemployment figures, which are based on unadjusted data, rose to 12.2 per cent. This compares with 10.8 per cent in December.
On a seasonally adjusted basis, the number of unemployed workers rose by 160,000 since December to a total of 4,317,000 in January. These numbers smashed average expectations among economists who predicted a rise of only 52,000.
Federal Labour Office chief Bernhard Jagoda said that the figures, while worrying, were affected by bad weather.Jagoda predicted that more Germans would be working in the spring. He said winter unemployment in construction-related industries accounted for nearly half of the increase in January job losses.
The sharp rise in unemployment threatens Germany's drive to contain its budget deficit in order to qualify for entry to the European Monetary Union, because its state finances are based on the assumption of stable unemployment, analysts say.
In western Germany, the number of people out of work on a seasonally adjusted basis rose to 3.029 million in January,whereas in the east, the number rose on an unadjusted basis to 1.288 million from 1.207 million in December.
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