Over 44 mln Germans employed in Q2: study

BY  | FROM  | 2017-08-21 16:07

German employment levels have reached a new record high, figures released by the Federal Statistical Office showed Thursday.

The number of employed Germans rose to 44.2 million in the second quarter of 2017, marking an increase of 1.5 percent, or 664,000 jobs, compared to the same period last year. A gain of 475,000 jobs, or 1.1 percent, was also recorded over the first quarter of 2017.

The Wiesbaden-based government statisticians attributed part of the continued positive trend to a traditional seasonal uptick in employment during the summer months.

The study also noted that jobs growth was well above average for the past five years. Even when adjusted for traditional fluctuations in the construction and gastronomy sectors, the number of employed Germans still grew by 0.3 percent compared to the first quarter of the year.

Most new jobs were created in the service sector. The German labor market has gathered strength, riding the country's ongoing economic momentum and already saw record levels of employment in Q1.

There was a slight blemish on the otherwise positive figures, however, in as far as the number of hours worked per capita fell slightly because the number of Germans contributing to the total volume of labor continued to grow.

On average, every employed German worked 321,2 hours in Q2, a decline of 28 hours compared to Q1.

Official figures released on Tuesday showed that gross domestic product (GDP) growth in the eurozone's largest economy held steady at a strong 0.6 percent in Q1, adding to the wider picture of the 19-member bloc's strengthening recovery.

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