Germany’s job market, the hallmark of economic resilience in Europe, showed weakness for the first time since May. Wall Street analysts expected the country to add 5,000 jobs. Instead, it lost 7,000 jobs.
But the German economy is hardly under serious strain. Throughout the crisis, analysts have tried and failed to predict the weakening of the German economy, with little success. Moreover, with just 6.8% of the population unemployed—nearly the country’s lowest ever unemployment rate—Germans are still largely unaffected by the economic pain that’s struck the rest of Europe.