-Financial Tools Futures Market--TRADE IDEAS-- OPTION ALERTS -BENZINGA PRO-

« Home | Stock Picks and Trade Ideas for Thursday - AAPL, R... » | The strange case of the disappearance of the pick-up » | Stock Picks and Trade Ideas for Wednesday - Amazon... » | Another Financial crisis in the banking sector is ... » | Server problems » | Stock Picks and Trade Ideas for Tuesday - Resmed a... » | Stocks to watch next week - WYNN, NVDA, JAVA » | Stock Picks and Trade Ideas for Friday - CMCSA, CH... » | Now I know why the economy is drunk. What a shame ... » | Stock Picks and Trade Ideas for Thursday - RIO and... » 

Thursday, February 26, 2009 

The engine of the European economy is breaking down

Unemployment in Germany rose for the fourth consecutive month. Only in February more than 40 thousand people were without work, bringing, thus, to 3.31 million the number of unemployed in the country. The fall in exports and the severe recession that is reaching the country has led companies across the country to cut another 40 thousand jobs just in February. The unemployment rate reached 7.9%, according to data from the German Labour Agency.

Germany is experiencing a serious economic crisis. The International Monetary Fund estimates that the economy will contract 2.5% in 2009 and that unemployment will continue to increase. Some companies in the country are reducing working hours, before cutting the jobs after the government announced that it would cover the costs of social security for companies that put workers in part-time. The percentage of German companies that reduce jobs increased from 18% in October, to 30% in January, according to a study by the chamber of commerce and industry DIHK. Europe is definitely in state of alert. The engine of the European economy is breaking down.

AC

Bookmark and Share

Contact

About Me

    Photobucket
  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

  • Benzinga.com supporter

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google