schmieding he's the chief economist at bear and bird bank he joins me from our parliamentary studio welcome to the program what is the main driver of the growing employment numbers in germany there are two main drivers of the growing german employment figures the first is germany is simply a good place to invest and to create jobs that's due to the labor market reforms that were implemented some thirteen years ago the second point is obviously we are enjoying global sick they can upswing strong economic growth in major parts of the wood including germany and that of course means more gains in jobs now what do you make of the fact that the employment in the service sector grew the strongest should a country with a strong industrial sector like germany boast jobs in this segment particularly. well a strong economy like germany is should be adding jobs in many sectors and that's what's germany is doing and quite naturally the biggest gains are in parts of the service sector those which are what economists call labor intensive that is where you actually need a lot of people to do the ta

schmieding he's the chief economist at bear and bird bank he joins me from our parliamentary studio welcome to the program what is the main driver of the growing employment numbers in germany there are two main drivers all of this growing german employment figures the first is germany is simply a good place to invest and to create jobs that's the labor market reforms that were implemented some thirteen years ago the second point is obviously we are enjoying global sick they can upswing strong economic growth in major parts of the wood including germany at that of course means more gains in jobs now what do you make of the fact that the employment in the service sector grew the strongest should a country with a strong industrial sector like germany boast jobs in this segment particularly. well a strong economy like germany is should be adding jobs in many sectors and that's what's germany is doing and quite naturally the biggest gains are in parts of the service sector those which are what economists call labor intensive that is where you actually need a lot of people to do the tasks

morgan and holger schmieding. i don't know if i should ask you about the oil, or the list, sanctions and politics. is it the one thing that could be the real risk to the markets in 2018, or will markets work through these tensions? >> geopolitics is something markets often find difficult to price in a realistic way. you get an accelerated recognition of risks when they actually even to eight. my sense is there are some geopolitical risks we think we can withstand, the italian elections being one and the german coalition talks at the moment. the speech that president trump will give we will be looking for clues about trade policy coming out of that. , but ire a lot of things don't think there is any particular indication at the moment that we are about to face some kind of geopolitical crisis. francine: francine: does the geopolitical crisis an impact the economy? will this lead back to possible trade protectionism, or does this make people more wary about their economic future, and so, they spend less? >> in the c