BERLIN, Nov. 28 (Xinhua) -- Germany had the second highest employment rate in the European Union (EU) last year, official figures published on Wednesday by the country's Federal Statistical Office showed.
According to the Wiesbaden-based government statisticians, the eurozone's largest economy had an employment rate of 79 percent for 20- to 64-year-olds in 2017. Sweden was the only EU member to record an even higher rate than Germany with 82 percent. The average employment rate for the entire bloc was 72 percent.
Speaking to Xinhua on Wednesday, Oliver Stettes, head of the Labor Economics at the German Economic Institute (IW), argued that Germany's relatively high employment rate in the EU showcased the high international competitiveness of its exports one hand, and the strength and flexibility of its labor market on the other.
"In spite of growing uncertainties, for example digital change, potential trade conflicts and Brexit, domestic firms continue to create jobs in the knowledge that they can respond to changes appropriately", Stettes said.
The employment rate is an important economic indicator which measures the share of the population with a job in a given age group. For Germany, the 79 percent rate marked an increase of six percentage points compared to 2007. The average EU employment rate rose by two percentage points during the same period.
The Federal Statistical Office highlighted that much of the gains in Germany owed to an increased participation of women in the labor market. Between 2007 and 2017, the female employment rate rose from 67 percent to 75 percent in the country. As of last year, Germany was ranked in third place behind Sweden (80 percent) and Lithuania (76 percent) in this regard.
Amongst employed women in the EU, a significant share of 31 percent was occupied in a part-time job.
Nevertheless, women were generally still far less likely to be active in the labor market than men across the EU. Whereas 78 percent of men were employed on average in the bloc in 2017, the figure for woman was only 66 percent.
The relatively favorable situation of the German labor market as a whole was found to benefit young professionals in particular who were just launching their careers. 65 percent of Germans aged 20 to 24 were employed in 2017 compared to an EU average of 52 percent.
A boost in employment was also recorded among older Germans during the past 10 years. As the local population continued to age rapidly, the share of 60- to 64-year-olds in work rose sharply from 33 percent in 2007 to 58 percent last year. The EU average for the demographic group was 43 percent in 2017, up from 29 percent in 2007.
