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    Homeless in Germany

    German Unemployment Reaches Record Low, Growth in 2015 Expected

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    The number of unemployed sank to around 2.8 million people in December, making up some 6.5 percent of the total working population. This figure is the lowest since 1991, when it stood at about 2.6 million, according to the German Federal Employment Agency.

    MOSCOW, January 7 (Sputnik) – Unemployment in Germany, Europe’s largest economy, hit a record low in December 2014, indicating that the growth of the national economy will accelerate in 2015, Bloomberg reported Wednesday citing data from the German Federal Employment Agency.

    The number of unemployed sank to around 2.8 million people in December, making up some 6.5 percent of the total working population. This figure is the lowest since 1991, when it stood at about 2.6 million.

    According to Bloomberg, the recent decline in oil prices has created a favorable environment for German economic development, which benefits both country's consumers and exporters.

    According to the Eurostat figures, the jobless rate in the euro area was 11.5 percent as of November 2014.

    Germany is the biggest EU economy, followed by France and Italy. Experts from the German Institute for Economic Research predict that after weak growth in mid-2014, the German economy will expand by 1.4 percent in 2015, with GDP estimated to grow by 1.5 percent.

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