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Germany has Europe's lowest youth unemployment rate, thanks in part to its ancient apprentice system, which trains about 1.5 million people each year. Higher labor force participation is one factor that could undermine this, but still that would mean the labor market is not yet at full employment.I’m an economist at Moody's Analytics, where I cover labor markets and other aspects of the U.S. economy. First the German national character has always been very hard working and pragmatic. A brightly lit Lufthansa workshop in Hamburg is part of that apprenticeship system.
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Germany's industry still offers a majority of skilled workers the elusive "job for life," a long-gone legend in many other Western countries.Meinhold believes that despite the costs, the apprentice system is an investment vital to the ongoing success of Germany's export-dependent economy by creating loyal, well-trained employees. And some 30,000 apprenticeship placements went unfilled — or about 2 percent.According to von Luede, this deficit is the result of a dramatic demographic shift. People with particularly good German language skills will be allowed to stay after a two-year period. World’s Highest Real Rate Is Right Where Egypt Wants It for... "Germany's dual system trains 1.5 million people annually. The labor force is significantly older than it was in any of these years thanks to the aging of baby boomers, growing participation of older workers, and declining youth participation. "Employment has grown strongly and … The average number of job seekers in Germany was lower in 2018 than at any time since reunification in … "It's a quite expensive way we go," he says. In addition, and all the other usual blogging caveats apply. The reason for this mismatch, a recent study by the German Federal Institute for Vocational Education and Training found, is that the education system is failing to adequately prepare the children of recent immigrants for the job market.Analyst von Leude agrees, adding that many school districts still divide children into blue- or white-collar career tracks while in elementary school.To address the mismatch between jobs and the labor market, the German government just made it a little easier for skilled foreign workers outside the EU to come to Germany by lowering the income requirement — to about $60,000 from $88,000.Under the rules change, non-EU workers who meet the new requirement will be able to stay in Germany permanently after a three-year period, if they are still employed. N.J. Wins Ruling to Issue Up to $9.9 Billion Debt for Crisis He notes that German industry and its powerful trade unions have a unique relationship marked by what he calls "antagonistic cooperation," a far cry, he says, from the more confrontational policies pursued by unions in Spain and Britain. Unemployment was 5.5% in December, November was revised lower Consider the China Shock, which weighed heavily on low-skilled labor from 2000 to 2007.