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MNI INTERVIEW2: German Employment Gains May Prove Fleeting

(MNI) LONDON

Recent German hiring has concentrated on the lower-productivity end of the workforce, a top government advisor says.

Gains in German employment may prove fleeting, with new jobs added since the pandemic focussing in low-productivity areas, a senior government advisor told MNI, though he added that the country should avoid deep recession.

While post-pandemic German employment levels are up 1.3%, gross domestic product has only gained two-thirds of that, noted Klaus Adam, professor of economics at the University of Mannheim and a member of the Advisory Board to the Federal Ministry of Finance.

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Gains in German employment may prove fleeting, with new jobs added since the pandemic focussing in low-productivity areas, a senior government advisor told MNI, though he added that the country should avoid deep recession.

While post-pandemic German employment levels are up 1.3%, gross domestic product has only gained two-thirds of that, noted Klaus Adam, professor of economics at the University of Mannheim and a member of the Advisory Board to the Federal Ministry of Finance.

Keep reading...Show less