Germany's Unemployment Rate is 5.3 Percent not 7.4 Percent

Friday, 15 February 2013 17:57

For some reason the NYT keeps using the official German unemployment rate in its coverage of Germany's economy rather than the OECD harmonized rate. The official German rate includes workers who are involuntarily working part-time. By contrast, the OECD essentially uses the same methodology as the United States.

Therefore the NYT badly misled readers when it reported that Germany's unemployment rate is 7.4 percent. The OECD harmonized unemployment rate in Germany is 5.3 percent.