Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The growth of unemployment in Germany threatens the manufacturing industry


September, 05 2024
watermark Economic news

The German manufacturing industry is facing serious challenges that could lead to massive job cuts. High energy prices, weak exports and the rapid development of technology create an unfavorable environment.


The Federal Employment Agency of Germany recorded an increase in unemployment to 6%, which is especially alarming for highly qualified workers. The automotive industry, a key sector of the German economy, is experiencing difficulties due to the high demand for electric vehicles. The production of electric cars is less labor-intensive, which leads to job cuts.


Volkswagen, one of Germany's largest automakers, has been forced to reconsider its plans and abandon job guarantees in force since 1994. The company is considering the possibility of closing its plants in Germany, which would be an unprecedented event in the history of the concern.


Volkswagen management explains the need to take tough measures due to the complication of the market situation caused by the emergence of new players, including foreign manufacturers of electric vehicles. The goal of the savings program adopted in 2023 is to increase the company's profit by 10 billion euros by 2026.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.