Skip to main content
CNN.com International
The Web    CNN.com      Powered by
 
 
 
 
 
 
 
 
 
 
 
 
 
ON TV
 
 
 
 
 
 
 
Business

German jobless record 5.2 million

By CNN Berlin Bureau Chief Chris Burns

story.jobseekers.jpg
Jobseekers stand by a dispenser for queueing numbers at a labor office in Frankfurt, Germany.
YOUR E-MAIL ALERTS
Germany
Europe
Unemployment

BERLIN, Germany (CNN) -- The number of Germans out of work hit a new postwar record of 5.2 million in January, the Federal Labor Office said, marking another blow to the leftist government of Chancellor Gerhard Schroeder.

The 177,000 additional jobless were due to colder weather slowing such sectors as construction, and the so-called Hartz IV labor reforms that force long-term welfare recipients to look for work, the Labor Office said in a statement.

The seasonally adjusted rate rose three-tenths of one percent to 11.7 percent, the Bundesbank said. The Labor Office said unadjusted jobless rate rose one-half of one percent to 12.6 percent.

The International Labor Office method Germany plans to adopt would put the figure at 9.4 percent, the Labor Office said.

But breaking through the psychological 5 million figure and going well beyond bodes badly for Chancellor Schroeder, who is expected to seek re-election next year. The figure is the highest since the depression of the early 1930s, before Adolf Hitler took power.

Bert Ruerup, head of the so-called "five wise men" -- a government panel of economic advisers -- said in the mass circulation Bild newspaper Tuesday he expects the jobless figure to fall back in the coming months, though it will remain over 4 million next year. He expects growth around one percent this year in part due to high oil prices and the weak dollar.

Bild's huge front-page headline read: "5.2 Million Men And Women Unemployed. Do Something!"


Story Tools
Click Here to try 4 Free Trial Issues of Time! cover
Top Stories
CNN/Money: Convictions in Tyco case
Top Stories
EU 'crisis' after summit failure

CNN US
On CNN TV E-mail Services CNN Mobile CNN AvantGo CNNtext Ad info Preferences
SEARCH
   The Web    CNN.com     
Powered by
© 2005 Cable News Network LP, LLLP.
A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines. Contact us.
external link
All external sites will open in a new browser.
CNN.com does not endorse external sites.
 Premium content icon Denotes premium content.