Thursday, July 26, 2007

German Jobless at 9.1 Percent

The Germans are clinking glasses to toast themselves for the lowest unemployment rate in six years.
According to raw, unadjusted data published by the Federal Labor Agency in Nuremberg, the German jobless rate fell by 0.4 percentage point to 9.1 percent in May, the lowest level since October 2001.
Analysts are pleased and predict a sunny future.

For comparison, the U.S. has been sporting unemployment numbers in the five percent range and the media incessantly trash President Bush for a lousy economy. The Germans finally have their unemployment resting comfortably around nine percent and the media trumpet a sunny outlook. Therefore:
5% jobless = lousy economy in the U.S.

9% jobless = sunny economy in Germany
Odd, isn't it? Maybe they're using some sort of voodoo metric analysis in Germany. On the other hand, maybe the media are lying to the American public.