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German job vacancies up

February 25, 2015

More jobs are up for grabs in Germany again. The country's employment agency says the number of openings hasn't been as high as it is now for over a decade, and the trend looks set to continue in the months ahead.

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Sign saying "Jobs" Photo: Michael Probst/AP/dapd
Image: dapd

The number of job vacancies in Germany picked up considerably in February, the Federal Employment Agency announced Wednesday.

It said its job openings index climbed to a reading of 183 this month, marking a rise of one percentage point from January and an 11-year high to boot. The February barometer was 20 points higher than the same month last year, the agency reported.

"Last year's overall good performance along with the currently positive mood can be expected to continue for the coming months," the labor office said in a statement.

Robust jobs market

Analysts predicted new data to be released on Thursday would show German unemployment falling for a fifth month in a row after already dropping to its lowest level in more than two decades in January.

German industry leaders have long expressed concerns about labor shortages in key sectors of the economy in Europe's powerhouse, notably in the high-tech and health service sectors.

The Berlin-based Institute for Economic Research (DIW) said Wednesday it expected gross domestic product (GDP) to grow by 0.5 percent in the first three months of the year (quarter-on-quarter).

"The German economy is currently benefiting from low oil prices, a weak euro and an increase in pension payments," DIW economist Ferdinand Fichtner said.

hg/sgb (dpa, Reuters)