Germany Macroeconomics Essay
The country of Germany is 137,846 sq miles and is made up of sixteen states with a population of about 81 , 147,265. The capital of Germany is Berlin, which is also the largest city in the country with a population of about 3. 52 million. Germany has the largest and most powerful national economy in Europe and the fifth largest in the world. They are a leading exporter of machinery, vehicles, chemicals, and household equipment. Germany is also known for their skilled labor force. Germany has the sixth largest Gross Domestic Product (GAP) in the world with a GAP of $3. 23 trillion 2012).
Germany’s labor force has a population of 44. 01 million (2012) or 59. 2%, making them fourteenth in the world. Of the German population that is part of the labor force, a large percentage of them have an occupation in the services (73. 8%). The second largest occupation in Germany is in industries (24. 6%), and the remaining is in agriculture (1. 6%). Making up the labor force of Germany is 54. 8% males and 45. 2% females. Of the labor force population 15. 8% have completed primary education, 58. 9% secondary education, and 25% tertiary
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Even though Germany has a strong labor force, they still have an unemployment rate of 5. 4% (April 2013), sixty-eighth in the world. The male unemployment is at 5. 7% while the female unemployment is at 5. 1%. Unemployment for the labor force population that is younger than twenty-five years old is at 7. 8% and from the ages for twenty-five to seventy-five is at 5. 1%. Inflation in Germany is currently at 1. 54% (May 2013).