The German Federal Statistics Office announced today that the number of unemployed in Germany decreased in March, in comparision with 2011, by 418,000 people. Compared to February there were 177,000 fewer unemployed.
Percentage-wise this means that only 5.6% of the working population in Germany is without a job. But it still means that 2.3 million people are not bringing the beans back home.
The unemployment level in Germany has been falling rapidly over the last few years and has never been so low since the reunification with East Germany in 1990. The German economy has really bounced when you realise that the unemployment level in 2005 was still above 10%
It might perhaps be wise for politicians in Europe to have a closer look as to why Germany is so successful and why their own economies are so sluggish. Germany has no oil or gas, only has one big port and a huge number of immigrants within its borders. Enough reason to put your hands up as a politician and moan about your misfortune.
The reason why Germany is so successful is fairly simple; they invest in infrastructure, education, R&D and value small and medium sized businesses. They still call BMW a medium sized, family business. Many other European countries think that big is beautiful. When you look at the number of jobs big business creates it often is no more than 20% of the total in a country.
It is time for European politicians to get rid of red tape that severely hampers smaller businesses and let entrepreneurs do what they do best: create jobs. It works in Germany, so why not let this happen in the rest of Europe?