UK Vs Germany Unemployment Essay

Topics: Unemployment, Economics, Economy Pages: 4 (1778 words) Published: December 5, 2014
Unemployment – France vs. Germany

Unemployment is defined by the Bureau of Labour Statistics as people aged 16 or more who are available for work, have made specific efforts to find work for the past four weeks but cannot secure a job (1). This essay will be looking at unemployment; however it will be covering a particular element about this subject. Why two similar performing economies can have different unemployment rates will be the main body of this essay. The two examples I will be using to demonstrate this questioned phenomenon is France and Germany. With this in mind I will be using multiple sources to discuss and compare the two countries’ economic conditions and unemployment rates. I will then use this information to analyse why one country (Germany) can experience a lower unemployment rate than the other (France) and find the hidden answer to this issue. Starting with France, according to the trading economics website, it has a high jobless rate of 10.4% (2). Because of this it is now at its “highest since 1997” (3) and kept on rising meaning that as of February 2014, the unemployed population (currently at 3.35million) will continue to rise. Despite these alarming figures, France currently has the 5th largest GDP in the world and is “the second-biggest economic engine in the euro zone” (4) behind Germany. These are confusing and also impressive stats considering its depressing unemployment rates. On the other end of the spectrum however, Germany has witnessed the opposite, “with unemployment figures at record lows since the 90’s” (5). Latest figures show that Germany has a jobless rate of 5.1%, giving it the 4th smallest unemployment rate in Europe behind its Scandinavian associates. Even with unemployment rates of less than half that of Frances; still it only sits one above them on the table in terms of GDP on a global scale at 4th. Nonetheless, what is strange is Germany is not the only country who is experiencing low unemployment rates at...

References: 3. (27/02/2013). France unemployment highest since 1997. Retrieved from the Before its news website: http://beforeitsnews.com/financial-markets/2013/02/france-unemployment-highest-since-1997-2513314.html
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5. (03/01/2013). Germany’s unemployment rate at record low in December. BBC news. Retrieved from: http://www.bbc.co.uk/news/business-16390429
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9. Kim Willsher. (12/07/2012).Peugeot Citroen to cut 8,000 jobs and close factory in France. The Guardian. Retrieved from: http://www.theguardian.com/business/2012/jul/12/peugeot-citroen-cuts-jobs-close-factory-france
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13. Eric Westervelt. (04/04/2012). The secrets to Germanys low youth unemployment. Retrieved from the NPR website: http://www.npr.org/2012/04/04/149927290/the-secret-to-germanys-low-youth-unemployment
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15. (08/11/2013). EU measures to tackle youth unemployment. Retrieved from the EU press release database website: http://europa.eu/rapid/press-release_MEMO-13-968_en.htm
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17. Nigel Cassidy. (14/12/2011). German apprenticeships: A model for Europe? BBC news. Retrieved from: http://www.bbc.co.uk/news/business-16159943
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