German Q2 Employment Falls For First Time Since 2005

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The number of employed persons in Germany fell 0.1% year-on-year in the second quarter, a report by the Federal Statistical Office said Thursday. This follows a 0.4% growth in the first quarter. The statistical office said this was the first time since the third quarter of 2005 that the number of employed persons declined from a year earlier.

During the second quarter, about 40.15 million persons were employed, up from 39.9 million in the first quarter, but lower than the 40.18 million persons in the second quarter of last year.

Among the sectors, employment fell 1.8% in industry including the energy sector and 0.9% in construction. However, employment rose 0.4% in the service sector and 1.3% in the agriculture and related sector.

Compared to the previous quarter, the number of employed persons, after seasonal adjustments were made, fell 0.3% in the second quarter compared to a 0.1% drop in the first quarter.

(Market News Provided by RTTNews)