The speed of job creation in Germany, as indicated by this morning’s unemployment change report, appears to be in deceleration. The German economy has seen positive change in unemployment since June 2009, but today’s slow-down pushes the jobs sector closer to contraction.
Does this mean Germany’s employment sector is in peril? Not at all. This data serves as a lagging indicator on the employment sector since it is released 30 days after the month ends, and it tends to be leaked prior to official publication, making the impact of its release somewhat murky. Germany’s rate of unemployment shrinkage is one sign of optimism in the euro zone’s largest economy, today’s numbers merely suggest sluggishness is beginning to creep in.
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