German unemployment falls below 3m

Unemployment in Germany fell under the 3m mark in October 2008 – the first time it has done so in 16 years – according to statistics released on the 30 October 2008, Labour market experts warned it would begin to rise again by the middle of 2009 as the economy slows in the context of the global credit squeeze.

The German government plans to pump some €25bn into rescuing the economy in a package to be announced on the 5 November 2008

Deutsche Welle, 30.10.08: Germany Plans Growth Package, Discounts Unemployment Drop http://www.dw-world.de/dw/article/0,2144,3752848,00.html

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