Bavarias’ unemployment rate declines

According to the latest data provided by the regional direction of the job centre, the unemployment rate in Bavaria, the biggest federal state of Germany, diminished significantly. In March about 267,000 people were registered as redundant, that is around 17,500 less than in the previous month.

The unemployment rate decreased by 0.2% points to 4.0%, which is the lowest rate since 10 years. This decline is mostly based on the traditional spring stimulation and the continual stable economic situation.

At the same time, according to the Land Statistical Office, the economy of Bavaria grew by 2.9% in comparison to the previous year. Thus the region is below the federal state average of 3.0%.

The strongest economic growth in 2011 was detected in Baden-Württemberg with 4.4%. Meanwhile, Mecklenburg-Vorpommern with 1.5% and Hamburg with 1.4% were considered as taillights.

As against the figure of the first half of 2011 (3.9%), the economic expansion in Bavaria slowed down meaningfully. This downward trend is due to the global cyclical slump and attributed to the European debt crises.

In comparison to other federal states in Germany, Bavaria has together with Baden-Württemberg the lowest unemployment rate in the country. The following diagram illustrates the jobless rate of all 16 German federal states, including the average of Germany (“Bundesgebiet”, displayed in blue colour), based on the latest data of March 2012.

Sources:

http://www.sueddeutsche.de/bayern/arbeitsmarkt-arbeitslosigkeit-in-bayern-geht-deutlich-zurueck-1.1321310

http://www.stmas.bayern.de/arbeit/quoten/index.php#bund

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