Today's date:
Spring 1996

Lower Wages Will Mean More Work for Germany

Horst Siebert is president of the Kiel Institute for World Economics.

Kiel - In 1970 only 150,000 people were unemployed in West Germany. Today 2.9 million people or around 9.4 percent of the labor force, are unemployed and another 500,000 are in government work programs. Each of the last three recessions in Germany has left behind some 800,000 unemployed that do not re-enter the workforce when the downturn recedes. Why?

back to index