German employment levels hit new high

The number of employed in Germany has increased to 43.4 million as of November, marking the lowest unemployment levels since the early 90’s, despite the introduction of the minimum wage in 2015.

The total number of employed people as of November has increased by 0.1% compared to the previous month, the German Federal Statistical Office Destatis reports.

Seasonally adjusted unemployment remains stable at 4.5%, marking a 0.4% improvement compared to the previous year.

In January 2015, Germany introduced a national minimum wage of €8.50 per hour, critics of the new regulation, including the Cologne Institute for Economic Research and the ifo institute had warned that the introduction of a minimum wage would have a detrimental effect on employment levels.

Recent figures suggest that the minimum wage has not led to increased unemployment.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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