Over 200,000 German industrial workers lost their jobs in the last year, the Federal Statistics Office announced on Thursday. This is the biggest employment slump in German industry in 12 years. The effects of the global economic crisis are becoming ever clearer in Germany, where the number of jobs in industry sank by 3.9 percent in July compared to the same month in 2008, according to a new report from Germany's statistics office. The new report shows that 5.03 million people are currently employed in German industry, compared to over 5.2 million last July. The number of actual man-hours sank by an even more alarming 10.4 percent, as more and more industrial workers have had their hours cut back. The gross income earned fell by eight percent to 16.6 billion euros ($24.5 billion). Worst hit were the metal, rubber and plastic industries, but Germany's beleagured automobile industry also took significant workforce losses of close to five percent.
The effects of the global economic crisis are becoming ever clearer in Germany, where the number of jobs in industry sank by 3.9 percent in July compared to the same month in 2008, according to a new report from Germany's statistics office. The new report shows that 5.03 million people are currently employed in German industry, compared to over 5.2 million last July.
The number of actual man-hours sank by an even more alarming 10.4 percent, as more and more industrial workers have had their hours cut back. The gross income earned fell by eight percent to 16.6 billion euros ($24.5 billion).
Worst hit were the metal, rubber and plastic industries, but Germany's beleagured automobile industry also took significant workforce losses of close to five percent.
