Germany Records rise in Unemployment

Recession in Europe is worsening with Germany recording a rise in unemployment. Rate of Joblessness in Germany has risen to 8.6% in March, worsening slightly over 8.5% in February this year. Germany's export driven economy has been hit by global economic down swing.

Europe is mired by extended recession:
The rate translates into 3.4 million jobless people, an increase of 69,000 since the last year.

Labor market in Europe has been adversely affected by the economic slump. Unemployment concerns in Europe are growing with Spain recording the highest jobless rate at 14%.

Forecasts fell short:
The number of unemployed workers here has already exceeded the figures forecast by many analysts. Economists say the rate of unemployment has been stronger than was expected. A weaker economy is being seen as the main reason behind the increase. Further decline in the economy and stabilization in the second quarter is estimated by analysts.

Unemployment to rise:
Further deterioration in the job market is certain. Germany is expected to have around four-million Unemployed people by the end of 2009.

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