OECD outlook for German job market positive
15 June 2017
German job market continuously stable
© German Embassy London
In their latest employment outlook, the OECD have forecast a continuously stable German job market for 2017. With shrinking unemployment, rising wages and strong demand for workforce, the positive prognosis for Germany lies over the OECD countries’ average.
In fact, the 2016 unemployment rate of less than 4 percent was clearly below the OECD average of 6.2 percent.
Furthermore, the OECD expects Germany’s employment rate to rise from 66 percent in 2016 to 68 percent in 2018.
The OECD has especially praised Germany’s renowned dual education system, as well as earnings quality, which is one of the best amongst all OECD members.
Germany’s minister of labour, Andrea Nahles, was happy to see that the report depicts the overall positive situation of the national employment market.
Nonetheless, the OECD did note that the wage gap between men and women lies slightly above average.
OECD Secretary-General Angel Gurria also underlined the importance for all federal states to cooperate and promote education and life-long learning to respond to globalisation and digitalisation.