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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (14987)	11/6/2004 1:37:16 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

German Unemployment news.bbc.co.uk The number of unemployed in Europe's largest economy rose by 12,000 last month to 4.457 million people. Economists said this ninth consecutive rise would be followed by further increases in the months ahead. "We have to expect a rise in January or February to above five million," said Dresdner bank economist Harald Joerg. "No turnaround can yet be seen on the labour market", agreed Frank-Juergen Weise, head of the Federal Labour Agency. Global weakness The German economy has been growing by about 1.8% this year, but this has not been enough to spark a significant rise in job creation, economists said. The rise in the jobless figure is also linked to the (welfare) reforms - Dresdner bank economist Harald Joerg The country's unemployment figure remained unchanged last month at 10.7% after having been adjusted for seasonal factors. The unadjusted figure, which offers less clear guidance of what is really going on, fell from 10.3% in September to 10.1% in October.