According to the Federal Employment Agency, the number of unemployed fell slightly in November – but less than usual at this time of year. The number of vacancies is also decreasing.
The number of unemployed people in Germany fell by 1,000 to 2.6 million in November compared to the previous month. However, that is 172,000 more than in November 2022, said the Federal Employment Agency.
The unemployment rate was 5.6 percent in November after 5.7 percent in October. Last year the number of unemployed fell by 8,000 from October to November. For its November statistics, the Federal Agency used data that was available up to November 13th.
Fewer vacancies – especially in the hospitality industry
The Federal Agency’s CEO, Andrea Nahles, said of the development: “The economic downturn continues to leave its mark on the German labor market.” Unemployment and underemployment have therefore increased in seasonally adjusted terms. Employment is only growing slightly – the reported demand for labor is still declining.
In November, 733,000 job vacancies were registered with employment agencies. That’s 90,000 fewer than a year earlier. The declines are particularly severe in the hospitality industry, temporary employment, transport and logistics, among others.