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Euro crisis to hit jobs in powerhouse Germany

Wednesday, September 26, 2012 - 03:13

Sept. 27 - The job market in Europe's biggest economy shows little sign of suffering from the euro zone crisis so far. But that could change as Chancellor Merkel heads for an election year.

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The family found that she didn't pinch is proud to be part of the middle stand. The small and medium sized firms at the heart of Germany's economic powerhouse. Employing nearly four and five workers in the private sector. Based in -- with a workforce of fifty company produces specialist measuring equipment for the chemical pharmaceutical and food industry's. Foremost open exports. And profit outside Europe. I think that the crisis is very much related to the banking crisis and to the state deficit crisis it's not related to the real economy. So and it's fortunately hasn't spread to the real economy yes. That's why I'm a little bit worried that these next two. Feelings about the Euro crisis is. And eventually. Effecting the real economy. That this company the strength of their emerging markets in Asia and Latin America. Is enough at the moment to offset the weakness in Europe. The chancellor hang of the macro. Dressing German business leaders and in this week one that Europe's biggest economy is not immune to the problems and it's back yacht. But -- all all -- and we need to strengthen it. Domestic demand as much as possible in order to create a certain group impetus of the -- -- -- box comes in blitz in the oh it's an off in nineteen. With. Business confidence that is noticed into an off kids summit Germany's biggest companies including the retail giant metro. But it turns out and touch a bank slashing thousands of jobs. Others like Oakland decent -- returning to the short time working introduced at the height of the financial squeeze in 2009. Economists say that may be US to come despite Germany's unemployment rate to six point 8% in September. Remaining far below the year as an average of eleven point 3%. But none -- now of the DIW. Institutes. The crisis in the Euro area is increasingly affecting Germany. As he -- for example in the labor market report where unemployment has increased again as we have to say. We also -- in other indicate just like industrial production cycle or does come from the crisis countries they did is increasingly affecting the German Economy. But we should be -- to be safeguarded in the sense that the German position on global markets. He's still relatively good and that should put us in the precision to. Start growing again and emerging economies like China to speed up a little bit. Despite the jobless total rising by another 9000 in September. Employees like -- -- say it's difficult to -- we don't produce a high tech products and so we need qualified and skilled people. -- electronic engineer software engineers and these are very hard to find sometimes we need to look for coffee and more in order to fund the right people. With many economists expecting negative growth in Germany in the third quarter of the year and perhaps even recession in the second half. Unemployment is likely to get worse before it gets better David cinco Reuters.

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Euro crisis to hit jobs in powerhouse Germany

Wednesday, September 26, 2012 - 03:13