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Important Summarize Points:
- widely viewed as the economic catalyst and stabilizer for the other states
- Germany’s economy relied primarily on export-led growth
- prospering manufacturing sector provides employment to over half of its workforce.
- implemented effective structural reforms to benefit its labor markets, and encourage more people to work
- placed a huge provision on the social welfare system for both the employed and unemployed. It also created a low-wage sector within the labor market, encouraging more people

- Germany’s low interest rates have also promoted higher spending, shifting consumer habits.

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Important Summarized Points:
- has a heavy influx of workers due to the many immigrants coming from the European states into the country and working without a work permit
- Many were unable to repay and refinance their government debts
- shows the effectiveness of how the migrants from Europe are able to help improve the employment rate of Germany
- some may not have have the adequate skills that is needed in their respective jobs
-> provide education and training
- an example of frictional unemployment faced by Germany and solved it by improving employability.

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Favourable economic conditions and an influx of foreign workers boosted employment in Germany to its highest since reunification in 1990, according to data published on Monday (4 January) as the jobless rate hovers at a historic low.

Around 43 million people living in Europe's largest economy were in work last year, up 0.8 percent on 2014 and a 12th consecutive annual increase, the Federal Statistics Office data showed.

It said an inflow of workers from eastern European states including Romania, Bulgaria and Croatia as well as from countries hit hard by the euro zone crisis such as Greece, Portugal and Spain had boosted employment.
>>Read: Moscovici: 3 million migrants won't harm EU economy
Meanwhile, more people already living in Germany had found jobs thanks to the robust economy.

Germany's unemployment rate has repeatedly reached monthly post-reunification lows in 2015 and fell in November to 6.3 percent from 6.4 percent the previous month, according to Federal Labour Office data. December's data is due on Tuesday.

Croatian citizens have been able to work in Germany without restriction since the start of July, and Romanians and Bulgarians to take jobs in all European Union countries without a work permit since the beginning of 2014.

Germany saw a record influx of migrants last year, with 1.09 million entering the country according to one newspaper.
>>Read: Analysts: Refugees 'may end up boosting European economies'
Many are not yet in work, meaning the correlation between that number and the growth in employment was very limited, if linked at all, the office said.

"If we manage to quickly train those that come to us and to get them into work, then we will solve one of our biggest problems for the economic future of our country: the skills shortage," Vice-Chancellor Sigmar Gabriel told Reuters, in September.

"But there are also risks," he added, pointing to the danger that refugees may not integrate properly into German daily life if they do not receive language training.

Around 77 percent of asylum-seekers and war refugees are of working age, the Institute for Employment Research (IAB) said in a report last month.

German trains-to-turbines group Siemens (SIEGn.DE) said it was keen to admit refugees to its apprenticeship program, and that it had taken on about 10 of them as interns at its campus in Erlangen, Bavaria in 2015.

A rise in the working-age population thanks to immigration will help lift German economic growth by 1.7 percent by 2020, according to calculations by Unicredit economist Andreas Rees.

"This corresponds to an increase of around 50 billion euros compared to a scenario without extra immigration," he said.

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Immigration helps push German employment to record high

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Favourable economic conditions and an influx of foreign workers boosted employment in Germany to its highest since reunification in 1990, according to data published on Monday (4 January) as the jobless rate hovers at a historic low.

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Important Summarized Points:
- Germany Youth Unemployment rate is increasing
- Youths are unemployable due to their lack of training and skill
- Implemented a initiative called "InCharge"
- Aimed to increase Youth Employment and increase Germany's Economy
- aims to help young people find a job and give them motivation, orientation and further qualifications
-heighten youth’s employability and equip them with a plan for their future
- believed that it is not about creating jobs but to help people qualify for jobs that are already available
- financial assistance is provided by the EU to those who create jobs or training opportunities in countries with high youth employment

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Over the last 15 years, Germany has been widely viewed as the economic catalyst and stabilizer for its fellow European Union states. Even after the 2008 financial crisis, the German economy was able to bounce back more quickly than neighboring eurozone states. Despite a number of post-crisis reforms, EU countries continue to suffer due to lack of global competitiveness. Greece, in particular, is in dire straits and continues to leverage the support of the European Central Bank and fellow eurozone states to avoid financial collapse. Germany has lent the country €56 billion to-date; however, Germany is losing patience over Greece's attempts to renegotiate terms of its bailout.

While Greece and the rest of the eurozone struggle with economic turmoil, the German economy continues to be a shining light of prosperity in the EU. With most German economic indicators pointing to strong future growth, it remains to be seen whether a spillover effect will reach its neighboring economies.

German Economy At a Glance

Germany, the largest economy in Europe, has rebounded from the global crisis unlike any other country. The nation's economic success stems from a strong export sector, low unemployment, strong housing and manufacturing sectors and a balanced budget. Prior to the financial crisis, Germany implemented a set of structural reforms that primarily benefited labor markets. The introduction of the Hartz Reform in January 2003 placed a massive provision on the social welfare system for both the employed and unemployed. The reform created a low-wage sector within the labor market, which encourage more people to work rather than collect welfare.

The economic recovery has also been shaped by Prime Minister Angela Merkel's commitment to fiscal austerity as a means of shrinking public debt. As a result of the reduction in government spending, Germany is running a surplus for the first time since the 1960s. (For more, see: Why Germany Is The Economic Powerhouse Of The Eurozone.)

Export-Led Growth

Relying primarily on export-led growth, Germany posted a record current account surplus of €215.3 billion in 2014, equal to 7.4 percent of the country's GDP. The current account is an important indicator that measures economic stability and is defined as net exports minus net imports. Exports in Germany are driven by small to medium-sized manufacturers of niche products. These small companies, referred to as Mittelstands, account for half of Germany's output and over half of its workforce.

Low Unemployment

The German economy has benefited largely from its manufacturing sector. In March, the unemployment rate fell to 6.4 percent, its lowest level since Germany's reunification in 1990. Increased manufacturing hiring at the beginning of 2015 contributed to the decline in unemployment. Year over year, employment and manufacturing wages rose by 1.2 percent and 3.0 percent, respectively. Despite these higher wages in manufacturing, real wages across all sectors grew 1.6 percent.

Rising Consumer Confidence

Amid rising employment and real wage growth, consumer confidence has reached its highest level since Germany adopted the euro in 2002. Low interest rates have shifted consumer habits from saving to spending. Cheaper mortgages have become more accessible, making it easier for renters to become homeowners. It is reported that €190 billion worth of property changed hands in 2014. House prices have begun to reflect the increasing demand, climbing over 40 percent in major cities between 2010 and 2014. Prior to the financial crisis, many Germans strictly rented property, thus avoiding the negative impacts of the housing bubble.

German Economy vs. Eurozone Economy

While Germany is experiencing strong economic growth, the rest of the EU is only beginning to witness a modest economic recovery. Following the introduction of Draghinomics, a massive overhaul of monetary policy, the bloc's economic stimulus has been aided by lower oil prices , a weak euro and rising exports. In 2014, the eurozone economy grew by 1.4 percent compared to German growth of 1.5 percent. Other key economic indicators suggests EU member states continue to lag behind Germany's robust growth.

As a whole, the eurozone posted a current account surplus of €17.8 billion in 2014. In addition to reflecting greater exports than imports, a current account surplus can occur due to weak domestic currency. The euro has been significantly weakened in an effort to stimulate the economy, and as a result, EUR/USD is almost 1. However, not all EU countries are running surpluses; currently the U.K. and Greece are running deficits of £98 billion and €0.85 billion, respectively, and they're worsening.

The average unemployment rate in the eurozone reached 11.3 percent in February, almost double that of Germany. Three countries reported unemployment rates above the average: Italy with 12.7 percent, Greece with 25.7 percent and Portugal with 14.1 percent. The level of unemployment amongst youth aged 15 to 24 is particularly intriguing: 35 percent of youth were unemployed in Portugal and 42.6 percent were unemployed in Italy. Meanwhile, consumer confidence dropped 6.7 percent in February-a stark difference from Germany's 10 percent increase. (For more, see: What Could Happen If the Eurozone Breaks Up?)

The Bottom Line

Despite ongoing turmoil in neighboring economies, the German economic recovery in the wake of the global financial crisis has been painless. With strong economic foundations rooted in export-led growth and fiscal austerity, the German economy continues to represent an anchor in the EU economy.

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Is Germany Carrying The European Economy?

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Over the last 15 years, Germany has been widely viewed as the economic catalyst and stabilizer for its fellow European Union states. Even after the 2008 financial crisis, the German economy was able to bounce back more quickly than neighboring eurozone states.

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More than half a million training contracts were signed in Germany last year, but 37,000 traineeships are still open, because there weren't enough applicants. It's a new record high.

German companies are finding it increasingly difficult to hire enough newcomers, while at the same time, there are more than 5 million unemployed young people in the EU. In Spain and Greece, every second young person is without a job. The costs for unemployment benefits and unpaid taxes are in the billions.

For years now, there have been attempts to bring many young jobless Europeans to Germany and get them working. It should be a win-win situation. But Karl-Thomas Neumann, chairman of GM subisdiary Opel and president of GM Europe, said that's not the case. "The current programs are not performing well. Too many people are quitting, and there are too few in permanent positions," he said. He described the attempt to bring talented workers to Germany as "not sustainably successful."

Supporting young people locally

One reason for that is because many people prefer to remain in their familiar environment, said Neumann, although he doesn't wish to equate this conclusion with an appeal against mobility. Rather, he is looking for promising alternatives to circumvent the problem. "We simply won't be able to have it so that everyone comes to Germany and works here," he said.

This past spring, he and other leading figures from German industry joined forces with several foundations to create the European InCharge initiative against youth unemployment. "I thought about what might have become of me if I had been unable to find a job when I finished my studies, if I'd had to move back in with my parents and could barely make ends meet," said Neumann. "I wouldn't be the person that I am today."

"There's lots of work out there, there are lots of opportunities and we want to help people qualify for jobs": Neumann (left)

Encouraging skills

InCharge aims to help young people find a job and give them motivation, orientation and further qualifications. Many young people have never learned how to be active on the job market, and lack employable skills. Often, they don't know how to successfully apply for a job, nor do they have a concept for what their future should look like.

"It's about taking charge of your life and not waiting for something to happen to you," said Neumann. That also means making sacrifices, and perhaps spending time abroad with the goal of one day returning home.

The initiative's first coaching day was held at the end of June in the Spanish city of Zaragoza. Just 10 days after it was announced, there were more than 800 applications. In the end, 420 participants were selected to meet with 23 partner companies. The event was divided into several sessions, including career talks, interviews, company presentations and workshops focusing on applications and job interviews.

Dual training

Nothing is promised that the initiative can't deliver. "It's not about saying that we're going to create thousands of jobs," said Neumann. "There's lots of work out there, there are lots of opportunities and we want to help people qualify for the jobs that are available in their countries."

No state, no society, and no company can create more jobs than it needs. But European factories and foreign branches of German companies are very much dependent on finding skilled workers locally.

Neumann was very impressed by the young applicants in Zaragoza. "They were totally engaged and focused, most had a really good education, and as an employer I would have thought that these were people I would really like to hire in future," he said.

And these are not just empty words - Opel has a factory in Zaragoza and, over the next few years, plans to offer about 1,000 young people job training that is similar to the dual training scheme offered in Germany.

'A large dose of self-interest'

"We feel responsible and we are looking for the right path," said Neumann, who makes no bones about the fact that the initiative is also a part of corporate strategy. "In the future, we will have to go where the talent is - and that's why there's a large dose of self-interest in the whole initiative."

The development and manufacturing sites of German companies will have to be located where the company can find the right employees. And further sweetening the deal is the financial assistance the EU offers to those who create jobs or training opportunities in countries with high youth unemployment. The latest program from the European Commission has 6 billion euros ($6.5 billion) at its disposal. Up until now, only 900 million euros of that money has been spent.

"It is very slow going," said Andrea Nahles, Germany's Labor Minister. Financial assistance is usually only granted for self-employment opportunities and for internships. "But there's much more being offered here," Nahles said, explaining her support for the InCharge initiative for German industry. "This is something that is actively sought after by Germany's federal states."

Neumann said that the European subsidies aren't being used in the right way. "When you ask why billions in EU funding aren't being drawn upon, then you often hear that there are no ideas, no expertise and no dedication, and that's what we want to bring to this."

Neumann knows only too well that his initiative can't work miracles. He won't promise to have solved the problem of youth unemployment in two years' time. "That's not going to happen," he said. But he does believe change is possible. The process has begun in Spain, and Portugal is due to follow at the end of the year. The initiative also plans to become active in Greece, although companies there have been reluctant to get involved due to the current debt crisis.

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German companies want to hire Europe's young unemployed | DW | 22.07.2015

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More than half a million training contracts were signed in Germany last year, but 37,000 traineeships are still open, because there weren't enough applicants. It's a new record high. German companies are finding it increasingly difficult to hire enough newcomers, while at the same time, there are more than 5 million unemployed young people in the EU.