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Demand for employees in Germany reaches record high

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Demand for employees in Germany reaches record high
Photo: DPA
16:03 CEST+02:00
An official index on available jobs across Germany hit a record high in June, as strong economic growth continues to drive down unemployment, it was announced on Thursday.

The Stellenindex, an index of job adverts registered with the Federal Job Agency (BA), rose three points compared with April to 135 points, the highest count since the index was created in 2005. In comparison with June 2016, the Stellenindex increased by 19 points.

The growth in the job market was seen in almost all sectors. But the highest demand was in manufacturing, trading positions, the service industry and construction. There was also an increased demand for temporary workers.

On Friday the BA will publish the absolute number of available positions nationwide.

According to the BA the stable economic situation in Germany was the main factor behind the growth in the job market.

But in boom times workers are also more prepared to switch jobs, leaving the positions they have left behind open, the BA stated.

SEE ALSO: Germany to have up to 760,000 new jobs by year’s end: report

There was equally good news from a reputed consumer confidence index on Thursday.

German consumers are expected to remain cheerful through July, pollsters GfK, as the public falls in step with general optimism about Europe's largest economy.

GfK's forward-looking poll of around 2,000 consumers forecast an increase of 0.2 points to reach 10.6 in July, continuing an upward trend observed over the past two months.

"Germans see the domestic economy in excellent shape into the beginning of the summer," the firm commented in a statement.

"Even uncertainty about possible restrictions on trade by the US government or the start of Brexit negotiations can't cloud the picture for now," they went on - although both could be troubling prospects for citizens of Europe's export powerhouse.

June saw an upturn in all the indexes feeding into GfK's indicator, with consumers expecting a stronger economy and higher incomes as well as being more prepared to spend money.

Low interest rates have contributed to people's inclination to spend over saving, the survey found, while a stronger labour market has boosted confidence.

"Low levels of fear for their own jobs means consumers can plan more securely. That makes them ready to take on bigger purchases with higher financial risks," the pollsters said.

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