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.