Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
Job growth remains one of the few areas of strength in the German economy, but there are signs of a slowdown.
- Total employment was almost flat on a seasonally adjusted basis in Q3’23 compared to last quarter (+7k, 0.0% Q/Q vs +89k, +0.2% prior), but the gains were enough for an all-time high at 46.04mln.
- Also compared to Q3'22, employment increased but growth is slowing (NSA +337k, +0.7% Y/Y vs +396k, +0.9% Y/Y prior).
- On an annual basis, the move higher was driven mainly by the resilient services sector (NSA +299k, +0.9% Y/Y), but industrial (+17k, +0.2% Y/Y) and construction (+21k, +0.8% Y/Y) employment developments were also positive.
- Concurrent and leading indicators suggest that the nascent slowdown in jobs growth will continue into Q4, however.
- One prominent example is the ifo Employment Barometer which has been in slightly contractionary territory since May (October 96.2 vs 95.8 prior) with services mirroring resilient employment developments in the sector (October services balance: 6.5 vs 3.4 prior).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok