Dwindling Exports Push German Unemployment Higher

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By Trey Thoelcke Published
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Germany’s unemployment rose again and now has been up for eight consecutive months. Once again, evidence points to Germany’s inability to isolate itself from the European recession. Germany has been unable to make up a drop in exports to its neighbors with exports to other large economies like the United States and China. Some economists worry that German gross domestic product may not grow at all next year.

The number of people out of work grew by 5,000 in November to 2.94 million, according to data released by the Federal Labor Agency. The jobless rate stayed at October levels, or 6.9%.

Bloomberg reports:

“It is doubtful whether private consumption can really take over the baton as the main growth driver for the German economy,” said Carsten Brzeski, an economist at ING Group in Brussels. “German unemployment looks set to increase further. This increase, however, should only be very mild, mainly located in the export industry.”

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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