The economic and financial crisis in 2008-2009 caused worldwide economic recession.And in the subsequent Euro crisis, many European countries fell into a deeper economic morass and the unemployment rate soared.The German economy also stumbled in 2009, but soon rebounded strongly.On the contrary, the labor market remained extremely healthy and seems to be immune to the crisis.In 2011 and 2012, the performance of the German labor market can be described as continuation of the good momentum since 2005, and the unemployment rate reached the lowest point since Germany's entrance into the Euro zone.This article interprets and analyzes the "German Job Miracle" in the context of the international economic and financial crisis in 2008-2009 and the Euro crisis in the resent time in the aspects of "internal flexibility" and "unit labor costs".
<<