Democratic Republic. Between 1990 and 2010 the unemployment rate fluctuated between 13% and 15%, but has decreased significantly ever since. In December 2019 the unemployment rate was 5.3%, the fourth lowest among the 15 largest cities of Germany (after Munich, Stuttgart and Nuremberg). In 2017, the GDP per capita of Dresden was 39,134 euros, the highest in Saxony. Thanks to the presence of public administration centres, a high density of semi-public research institutes and an extension of publicly funded high technology sectors, the proportion of highly qualified workers Dresden is again among the highest in Germany and by European criteria. In 2019, Dresden had the seventh-best future prospects of all cities in Germany, after being ranked fourth in 2017. According to the 2019 study by Forschungsinstitut Prognos, Dresden is one of the most dynamic regions in Germany. It ranks at number 41 of all 401 German regions and second of all regions in former East Germany (only surpassed by Jena). Enterprises Three major sectors dominate Dresden's economy: Silicon Saxony Saxony's semiconductor industry was built up in 1969. Major enterprises today include AMD's semiconductor fabrication spin-off GlobalFoundries, Infineon Technologies, ZMDI and Toppan Photomasks. Their factories attract many suppliers of material and cleanroom technology enterprises to Dresden. The pharmaceutical sector developed at the end of the 19th century. The 'Sächsisches Serumwerk Dresden' (Saxon Serum Plant, Dresden), owned by GlaxoSmithKline, is a global leader in vaccine production. Another traditional pharmaceuticals producer is Arzneimittelwerke Dresden (Pharmaceutical Works, Dresden). A third traditional branch is that of mechanical and electrical engineering. Major employers are the Volkswagen Transparent Factory, Elbe Flugzeugwerke (Elbe Aircraft Works), Siemens and Linde-KCA-Dresden. The tourism industry enjoys high revenue and supports many employees. There are around one hundred bigger hotels in Dresden, many of which cater in the upscale range. Dresden still has a shortage of corporate headquarters. Media The media in Dresden include two major newspapers of regional record: the Sächsische Zeitung (Saxon Newspaper, circulation around 228,000) and the Dresdner Neueste Nachrichten (Dresden's Latest News, circulation around 50,000). Dresden has a broadcasting centre belonging to the Mitteldeutscher Rundfunk. The Dresdner Druck- und Verlagshaus (Dresden printing plant and publishing house) produces part of Spiegel's print run, amongst other newspapers and magazines. Education and science Universities Dresden is home to a number of renowned universities, but among German cities it is a more recent location for academic education. The Dresden University of Technology (Technische