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Germany — Strong economic growth expected to create +100,000 jobs in H2 2010

23 August 2010

The German Chambers of Commerce (DIHK) have corrected upwards their prognosis for economic growth for the year 2010 from 2.3% previously to 3.4%, German weekly, German weekly Der Spiegel reports.

DIHK Managing Director, Martin Wansleben, said "the improved economic outlook is not just due to the increase in exports. The economic boom is gaining ground. Even domestic consumption is up due to the positive employment figures."

DIHK, President, Hans Heinrich Driftmann, told German daily Berliner Zeitung "unemployment is now at its lowest level since 1992, one year after the worst economic crisis since 1929."

Driftmann also points out that before the labour market reforms five years ago (Hartz-Reformen), there were +1.6 million more unemployed in Germany than there are now.

DIHK estimates that employment will rise by a further +100,000 new jobs in the second half of 2010.



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