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High unemployment in Germany has become a conspicuous feature of the international economic scene. The paths of unemployment and inflation indicate that aggregate demand factors can only explain some of the secular rise in joblessness in Germany. The central conclusion must be that underlying real factors have raised the equilibrium rate of unemployment. There is little evidence that the rise in Germany's nonaccelerating inflation rate of unemployment (NAIRU) is due to a rise in frictional unemployment. Rather, in comparing the relative labor market performance of Germany and the US, nonadjustment of wages to adverse shocks and to unemployment itself appears to be to blame. The evidence is highly consistent with the hypothesis that wage rigidity in services has obstructed rapid labor-intensive growth in service activities and can help explain the continuing rise in Germany's unemployment level.