The economy is weakening, which is now having an effect on the labor market: the number of people without a job rose by 11,000 from May to June and now stands at 2.555 million people. Without the usual seasonal effects, it would be even more.
In Germany, the number of unemployed is rising again. In June it was a total of 2.555 million people, according to the Federal Employment Agency. That was 11,000 more than in May and 192,000 more than a year ago. The unemployment rate was unchanged from May at 5.5 percent.
If one calculates the usual seasonal effects, the number of unemployed would have risen by 28,000, the agency said. “We are now also feeling the more difficult economic conditions on the job market,” said BA boss Andrea Nahles. “Unemployment is rising and job growth is losing momentum.” In May 2023, unemployment had still fallen slightly.
Irrespective of the economic problems, there is a staff shortage in Germany. The number of vacancies in June was around 769,000, down more than 100,000 on a year ago. Nevertheless, a comparatively large number of jobs are still unfilled.