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8.2% Out Of Work In Germany As "recovery" Continues

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German Unemployment Increased in September; Jobless Rate 8.2%

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By Rainer Buergin and Christian Vits

Sept. 30 (Bloomberg) -- German unemployment rose in September as companies shed jobs to restore profitability even as signs mount that the worst of the economic crisis is over.

The number of people out of work rose 10,000 on a seasonally adjusted basis, before statistical changes are taken into account, the Nuremberg-based Federal Labor Agency said today. Including the changes, unemployment declined by 12,000.

“The crisis is now starting to hit the labor market,†said Alexander Koch, an economist at UniCredit Group in Munich. It isn’t “as catastrophic as suspected yet, but we’ll see a strong increase in the number of unemployed in coming months.â€

Unemployment, the lagging destroyer.

It has been said:

A recession is when your neighbour has lost their job. A depression is when you have lost yours.

No jobs--no purchases. No purchases no jobs...................................

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