The number of people out of work in Europe's largest economy has risen for the tenth straight month as growth remains stubbornly slow. German unemployment rose 7,000 in November to 4.464 million people, or 10.8% of the workforce. [...] Among the new initiatives are the so-called "one-euro jobs" which top up unemployment benefit. The scheme's formal launch is January, but hirings for these positions are already taking place and affecting the unemployment statistics, economists said. "The deterioration of the labour market does not come as a surprise," said Isabelle Kronawitter at Hypovereinsbank. "Job creation measures probably prevented a stronger increase in the seasonally adjusted numbers."
"New initiatives"!?!? Just more of the same old Left-wing, top-down, elitist, non-market-driven drivel! You'd think that seeing how Reaganism/Thatcherism worked so well in the US and the UK, more Europeans would begin to accept the truth that socialism just doesn't work, wouldn't you!?
What works? CUTTING TAXES - TO ENCOURAGE INVESTMENT; RELAXING LABOR LAWS - TO MAKE IT EASIER TO HIRE AND FIRE. For starters. Sheesh...
Yes, but they really can't cut taxes under the EU rules. They're limited to a 3% overage. Berlusconi has proposed changing those rules, but....
ReplyDeleteThe problem for Germany is that it has relatively little control over its currency or its economy right now.