The secret of Germany's success | 41 comments (41 topical, 0 editorial, 0 hidden)

Re: The secret of Germany's success (4.00 / 4)

The important questions are:

How much of the drop is down to employment growth, and how much is due to people falling out of the workforce?
What kind of jobs have been created?

(I haven't yet researched these questions in detail, so they are really just questions.)

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Tue May 15th, 2007 at 07:28:25 AM EST
[ Parent ]

Re: The secret of Germany's success (4.00 / 4)

3. What part has wage restraint played?

by afew (afew(a in a circle)eurotrib_dot_com) on Tue May 15th, 2007 at 07:52:21 AM EST
[ Parent ]

Yep (4.00 / 2)

Year-on-year wage growth:

The number of workers has increased a lot, and yet that did not translate into growth, or even spending growth:

Germany's growth has been driven largely by exports and not domestic demand:

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue May 15th, 2007 at 08:42:00 AM EST
[ Parent ]

Re: The secret of Germany's success (4.00 / 5)

Answering my own questions:

According to the ILO statistic, from March 2006 ro March 2007, unemployment fell by 690,000, employment grew by 602,000, while population change was minimal ; the ratio of 15-64-year-olds employed grew by 1.6 percentage points (to 69.3%) -- a case for true job creation.
The ratio of 'underemployed' (who work but would do so more) fell by 0.3% year-on-year, that would be a positive, but (see next link) there was also some reduction of average hours worked. Here is something on jobs, up until Q4/2006. There was growth in Q3+Q4 in agriculture and in the construction sector, still reduction in the production sector, biggest growth however was in the service sector. That does say something but not much, I should look for further data.

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Tue May 15th, 2007 at 07:55:09 AM EST
[ Parent ]

Re: The secret of Germany's success (none / 1)

Good digging! The ratio of underemployed persons fell by 0.3 percentage points (to 12.7 percent from 13 percent). Sorry for nitpicking, but there's a difference.

The question of 'what kind of jobs' is a bit more difficult to answer, probably. Another good question is where the jobs are being created (unemployment rates were high in much of the west as well).

by nanne (zwaerdenmaecker@gmail.com) on Tue May 15th, 2007 at 08:28:04 AM EST
[ Parent ]

Re: The secret of Germany's success (none / 1)

0.3 percentage points

The one time I forget it it is pointed out -- ET :-)

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Tue May 15th, 2007 at 08:31:04 AM EST
[ Parent ]

Re: The secret of Germany's success (4.00 / 2)

Gotta get my PN points :-)

by nanne (zwaerdenmaecker@gmail.com) on Tue May 15th, 2007 at 08:44:01 AM EST
[ Parent ]

The secret of Germany's success | 41 comments (41 topical, 0 editorial, 0 hidden)

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