German Of The Day: Entlassungswelle

That means wave of layoffs.

Bank

Although the plural form would be more accurate these days. It’s the latest big thing in Germany. Everybody’s doing it – or in the process of planning it (see German automobile industry).

Take the Deutsche Bank, for instance. Give me 18,000 employees to go. The times they are a changin’.

Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany’s biggest bank.

The investment bank is expected to be particularly hard hit, with many of the cuts set to affect London and New York.

“I can assure you: we’re prepared to make tough cutbacks.”

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Productivity?

What’s that? I live in Berlin.

Productivity

Asked which region in Europe has been the absolute worst at realizing its economic potential, most people probably wouldn’t name Berlin. The German capital isn’t just nice to live in, it’s throbbing with excitement; a startup is reportedly created here every 20 minutes, and if you leave for a night out, you risk not coming back for a week. But according to a study of the economic performance of European regions, Berlin is indeed the worst.

What is more important: productivity or a city’s peculiar, esoteric feel? Berlin is one of the places where this question is especially poignant.

Are We Having A Recession Yet?

I don’t get it. I thought the German boom had boomed out. That’s all they’ve been talking about here for the past few months. More fake news, I guess.

April

Speaking of employmentGerman Joblessness Falls in Sign of Confidence in Growth Rebound – German unemployment continued its decline, suggesting companies are keeping faith in the prospects for Europe’s largest economy.

The number of jobless people fell 12,000 in April, more than economists expected, to 2.22 million. The labor agency said demand for workers continues to be very high.

This is the lowest unemployment rate for April in 30 years.

Arbeitslosigkeit – niedrigster Aprilwert seit 30 Jahren

Above Average?

Germany’s labor costs above EU average? Sure. But take a closer look. Forget about Eastern Europe.

Cost

Germany is one of the lowest when it comes to labor costs in Western Europe. And maybe there’s a connection here somewhere but it’s unemployment rate is also one the lowest.

“This convergence of relative labor costs results from the fact that in countries with low labor costs, growth rates have been well above those of countries with already high labor costs for many years.”

No Job Losses Here

In Germany. Then everybody’s happy, right?

A380

The German government is not expecting widespread job cuts in Europe’s largest economy following Airbus’s decision to scrap production of the A380 superjumbo, the aerospace policy coordinator told Reuters on Thursday.

“We expect these jobs will largely continue to exist, working on different models such as the A350, the newest plane on the market, or the A330 neo.”

 

SPD Ready To Abolish The One Reform They Accidentally Did Right

It took them fifteen years to sink this low but better late than never, I guess.

Nahles

The SPD, clutching for any straw it can still find before going under completely, is now prepared to do away with the infamous Hartz IV reform introduced by the SPD-lead government under Gerhard Schroeder in 2003. Never popular because it made major demands upon the unemployed, it nevertheless brought a considerable reduction in short- and long-term unemployment and contributed to making Germany the employment powerhouse it is in Europe today. Back to the future. As in living in the past.

AUSGERECHNET IHR GRÖSSTES ERFOLGSPROJEKT – SPD will Hartz IV abschaffen!

SPD Outrage…

Is the most outrageous kind of outrage there is around here. Take this one: Outrage about the unacceptably high number of temp employment contracts in Germany today. We’ll see to it that these poor people get real jobs!

SPD

Fine. Run with it. So that’s why the SPD is making such a big noise about alleviating this scourge as soon as the next GroKo (with SPD participation) is finally in power.

The only dumb thing here is that they wouldn’t have to wait that long if they didn’t want to. It turns out that the folks over at the SPD-run Ministry for Family Affairs, Senior Citizens, Women and Youth, for instance, have hired way too many of these poor defenseless temp employees themselves. They’re not willing to give these people permanent contracts, however. This is because… Because why anyway? And there we have it again, folks: The SPD redistributor world vs. the real finite resources world.

Die SPD hat im Koalitionsvertrag einen Kompromiss zu sachgrundlosen Befristungen ausgehandelt. Tatsächlich ist die Praxis aber auch in Bundesministerien gängig.

600,000 Jobs

More or less.

According to a study conducted by the ifo economic institute, some 600,000 jobs in the German automobile industry would be lost if the planned ban on combustion engines in Germany in 2030 goes through, which of course it will and must (this is Germany, after all).

Morgenthau

Damn. The Greens & Co. have developed a little Morgenthau Plan of their own. A little late, but still. Germany as Agrarland (agricultural country)? Why not? Germany first or something.

Mehr als 600.000 deutsche Industriearbeitsplätze wären laut einer Studie direkt oder indirekt betroffen, wenn ab 2030 keine Autos mit Verbrennungsmotoren mehr zugelassen werden dürften.

Working Germans Totally Inefficient These Days

Whereas the number of working Germans who put in a 48-hour workweek back in 1995 was 1.3 million, some 1.7 48-hour workweek Germans are needed today to get the same amount of work done. Or so I assume…

Working

Was für Luschen. What a bunch of duds.

Während 1995 etwa sechs Millionen Beschäftigte regelmäßig am Samstag oder Sonntag gearbeitet haben, waren es im vergangenen Jahr bereits 8,8 Millionen und damit jeder vierte Beschäftigte.

Poor But Sexy, But Poor

Those were the days. Berlin used to be just (arm aber sexy) poor but sexy.

Poor

Now Berlin is poor but sexy, but poor. At least when it comes to trying to earn a living here.

The German capital pulls down the per capita income for the entire country. According to Eurostat (the European statistics office), Germany’s gross national product (with an emphasis on gross) would climb 0.2 percent if they could just find a way to factor out losers like us here in Berlin.

Poor? Yo capital is so poor it can’t afford to pay attention.

Die Hauptstadt drückt auf das Pro-Kopf-Einkommen der gesamten Bundesrepublik: Das Bruttoinlandsprodukt je Einwohner würde um 0,2 Prozent steigen, wenn man Berlin und seine Einwohner ausklammert, wie das Institut der deutschen Wirtschaft (IW) auf Basis von Daten des Europäischen Statistikamtes Eurostat errechnete.