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Contributions by Dr Jörg Zeuner, Chief Economist of KfW

(Older entries only available in German)

Current comments

31-01-2019 | German labour market

"Employees and job seekers in Germany still have good reason to be optimistic about the new year. The economy is being dampened by weaker growth in world trade but things will continue to improve. I therefore expect new employment records and a further increase in real wages in 2019. I expect the number of people in employment in 2019 to rise by 370,000 to over 45 million. The employment dynamic will thus slow down significantly. In 2018 the increase was 600,000. The number of unemployed people is likely to fall by 150,000. At 4.8%, the unemployment rate would then be below 5% for the year as a whole for the first time since reunification. This forecast is subject to the proviso that there will be no serious setbacks for the economy. A hard Brexit would also hit the German economy, although by far not as hard as the British economy. From an economic point of view, the best outcome for everyone would be if the UK were to decide to remain in the EU after all." (Dr Jörg Zeuner)

 Kredite an nicht-finanzielle Kapitalgesellschaften
Chief Economist of KfW Dr Jörg Zeuner

Further comments


KfW Research, KfW Group, Palmengartenstrasse 5-9, 60325 Frankfurt, Germany,


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