The number of unemployed in Germany fell by 29,000 to 3.18 million as 40,000 vacancies were filled during August, although it was a different story throughout Europe.

Falling unemployment figures are being propped up by the manufacturing industry as in Germany, ZF Friedrichshafen AG the car parts maker plans to create 4,000 new jobs over the next year.

However this is seemingly not the Case for the UK as the British Camber of Commerce has predicted that unemployment will rise by up to 350,000 in the next year, which will take the total above two million.

French unemployment is also another struggling as it rose to a 15-year high at over 40,000 in August with the unemployment rate expected to rise to 7.4 per cent.

This new prosperity will also have an impact across Europe due to labour demands, as pay rises will be sought, with Germany again the most vulnerable as an estimated 3.2 million workers who are part of the IG Metall union are lobbying for a pay rise of around 8 percent.