What You Should Know About Our Economy
In 2017, the unemployment rate reached its lowest level in more than 25 years: 5.7 percent (Presse-und Informationsamt der Bundesregierung 2018). I am only partially enthusiastic about these figures, considering certain developments: many people with low incomes are increasingly dependent on transfer payments (e.g., an allowance for rent) to make ends meet. It goes without saying that they cannot save money for their retirement, and with the low payments they will receive from the state pension scheme and due to the fact that most (elderly) people do not live in joint families/with their grown-up children, they are later threatened by poverty in old age (Altersarmut). ...
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