[OPE] Any Experts on the German Economy Out There?

The Wall Street Journal has two articles about German. One describes
how German wages are stagnating, despite the expansion.

Here is the first articles:

Thomas, Andrea. 2010. "German Workers' Wages Belie Country's Rebound."
Wall Street Journal (15
August).http://online.wsj.com/article/SB10001424052748704296704575431240767523752.html?mod=WSJ_World_MIDDLENews

"Germany has surprised the world with a sharp acceleration in its
economic recovery, but perhaps the least impressed by this feat are
Germans themselves. The German economy expanded a sharp 2.2% in the
second quarter from the first -- the fastest pace since reunification in
1990. But, despite the export-driven rebound, most German workers aren't
getting any richer."

"Chancellor Angela Merkel's government has hailed Germany's "job
miracle" after whittling the jobless rate down to 7.6% of the work
force, compared with unemployment levels of about 10% in the U.S. and
France. But the bulk of that reduction has come from the emergence of
part-time jobs, often at low pay. That helps explain why German domestic
demand has remained sluggish even as German exporters boast booming
foreign orders. The disparity has drawn accusations from Germany's
neighbors, notably France, that it is exploiting the world recovery
without contributing to global demand."
More at:

http://michaelperelman.wordpress.com/2010/08/28/any-experts-on-the-german-economy-out-there/

-- 
Michael Perelman
Economics Department
California State University
Chico, CA
95929
530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com
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