Facts about Germany 2015 2015 - Page 78

76 | 77 BUSINESS & INNOVATION TOPIC ATTRACTIVE LABOUR MARKET Despite the financial and economic crisis, since The rise in part-time employment likewise typi- 2008 the German labour market has tended cally reflects trends in the labour market. ever upwards. In July 2015 42.8 million people worked in jobs that are subject to mandatory The low level of youth unemployment has social insurance contributions. The high em- drawn the world’s attention to the success of ployment rate of over 73.5 percent is an expres- dual vocational training, which differs from sion of the country’s sound economic situation, purely school education. In most countries, the despite little assistance from the global econ- completion of schooling marks the start of omy. Germany is one of the EU member states working life. Having finished school, almost with the lowest unemployment. In 2014 the half of young people in Germany, however, em- unemployment rate was on average 6.7 percent, bark on a course of training. These are offered and thus at its lowest level since 1991. In parti- in one of the 350 state-recognised occupations cular growth in segments of the services sector for which accredited vocational training is re- is impacting positively on the labour market. quired within the framework of the dual sys- According to a study by the Institute for Employ- tem. The young people thus receive practical ment Research (IAB), Germany is set to increas- training in their company on three to four ingly become a service society in coming years. weekdays, while on the other day(s) they receive theoretical instruction at a vocational school. Several countries are currently adapting the INFO Career Compass Germany. Created in 2015, the app provides extensive information in German and English about opportunities for training, studying and working in Germany. The app is aimed specifically at young people abroad and gives them an opportunity to familiarise themselves in-depth with all manner of issues. Topics such as corporate culture in German companies as well as helpful guidance with applications are included. There are more than 200 links to associated sites. → deutschland.de system of dual vocational training. With a view to creating a modern, fair and transparent labour market, the Federal Government has moreover realised numerous projects relating to labour-market policy. Since the beginning of 2015, for example, a statutory minimum wage of 8.50 euros has been in place, from which initially 3.7 million people are benefitting. Moreover, the quota for women is intended to ensure equal numbers of men and women in top management positions. This means that from 2016, listed companies and those that are subject to co-determination regulations must adhere to a 30-percent quota for women for