It’s been a bad couple of months for German Chancellor Angela Merkel, whose approval ratings have fallen sharply over her continued support of open-border immigration policies that have allowed over 1 million refugees to flow into the country since 2015. Increasingly more Germans have blamed Merkel for the surge in refugee terrorist attacks over the past couple of months and have shifted their support to more nationalist-leaning political parties. In fact, just a few weeks ago Merkel suffered a massive, embarrassing defeat in her home state to her nemesis, the anti-immigation AfD party (see “Merkel Stunned By Defeat To Anti-Immigrant Party In Her Home State“). Alas, despite calls from voters for a shift in Germany’s immigration policies, Merkel continues to double down.
One of the original selling points for accepting migrants from the Middle East was the apparent economic “benefits” associated with adding 100,000s of new, young consumers/laborers to the German economy. In fact, the wave of new immigrants was sold as the perfect solution for Germany’s demographic dilemma which is expected to see its working-age population shrink by 6 million people by 2030.
While it sounded like a great plan, it doesn’t really work that well if new migrants fail to find jobs and become economically productive members of society which, according to Reuters, is exactly what is happening. Apparently, German companies have only been able to find jobs for about 100 of the 1 million migrants that have recently found their way into the country.
This post was published at Zero Hedge on Sep 15, 2016.