Economic Indicators2 hours ago (Apr 24, 2020 04:45AM ET)
FRANKFURT (Reuters) – German unemployment is set to rise by around 520,000 and exceed 3 million this year, the IAB labour market research institute said on Friday, as the coronavirus pandemic puts strain on the economy and more people out of work.
In a research paper published on Friday, the institute said it expected Germany’s economic output to shrink by 8.4% in 2020 as a result of the epidemic, making it the worst recession since World War 2.
Real gross domestic product(GDP) fell by 14.6% in the second quarter, IAB said.
German unemployment to rise beyond 3 million in 2020: IAB
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.