Advertisement
YOU ARE HERE: LAT HomeCollectionsRetirement

Monday Business | BRIEFLY / LABOR

German Chancellor's Jobless Plan Draws Ire

November 09, 1998|Associated Press

Chancellor Gerhard Schroeder suggested that Germans be eased into earlier retirement as a way to open up jobs and fight double-digit unemployment. A top business lobby, German Assn. of Employers, rejected the plan as too expensive. Schroeder told the weekly Bild am Sonntag he would propose that labor and business groups agree to let workers retire with full benefits at 60, five years earlier than usual. Schroeder, elected in September on a pledge to combat 10% unemployment, is preparing for talks with business and labor organizations due to start next month. Lowering the retirement age would be a priority, along with a previously announced plan to find work for 100,000 young jobless, he said. Other proposals call for employees to fund the plan by giving up part of their pay increases. The government would subsidize the effort.

Advertisement
Los Angeles Times Articles
|
|
|