Economy of Germany Nowadays Assignment Example | Topics and Well Written Essays - 3000 words

Economy of Germany Nowadays - Assignment Example Germany is one such country whose economy was largely affected by the economic recession leading to inflations and a drop in currency value. The economy has since stabilized as it continues to invest in its economy. The value of the euro has since stabilized and the trend is approaching upward exponential growth. The current biggest hurdle facing the country is an ever-increasing rate of unemployment facing young youths who are joining the job market. This has been cited to arise from the high number of foreign labor infiltrating the market due to the competitive, lucrative industrial wage rate that attracts labor from all over the world to the disadvantage of its native labor force (Wall, 2010). Germany has since maintained its competitive labor market as compared to its neighboring states owing to a well-crafted wage rate with a competent and productive pool of labor. The economy of the country has been slowed down by post-German wars that incapacitated the state and brought down the economy to ground level as everything came to a halt. It took time for Germany to recover but even then, they could not restore their resources and degraded infrastructure to their previous state. Such setbacks are what impacted the economy. The other factor affecting the economy is the high rate of unemployment as earlier mentioned. The country has no setbacks absorb its labor force into developing the economy due to the increased growth rates and frequent infiltration of labor forces from the neighboring states.