Labour market 2010: No speedy recovery from the crisis

Abstract

"In 2010 the German economy is slowly recovering from the worldwide financial crisis. Unlike 2009, as companies tended to hoard labour enormously and employment was not really affected by the crisis, it seems to be more realistic that employment will decrease in 2010. In the mean variant of our short term projection, where a GDP growth of 1 3/4 % is assumed, employment will fall by 230.000 persons. In difference to 2009 the potential of a further reduction in working hours seems to be exhausted. Furthermore, the demographic development will reduce labour supply by 110.000 persons. All in all, registered unemployment will rise by 120.000 persons up to a yearly average of 3.5 million." (Author's abstract, IAB-Doku) ((en))

Cite article

Fuchs, J., Hummel, M., Klinger, S., Spitznagel, E., Wanger, S. & Zika, G. (2010): Entwicklung des Arbeitsmarktes 2010: Die Spuren der Krise sind noch länger sichtbar. (IAB-Kurzbericht 03/2010), Nürnberg, 12 p.