Labor market: Number of unemployed falls

Employees at the VW plant in Emden

The economic downturn is also slowing down the labor market.

(Photo: dpa)

Berlin The number of unemployed in Germany fell by 62,000 to 2.486 million in September compared to the previous month. As the Federal Employment Agency (BA) announced on Friday in Nuremberg, the unemployment rate improved by 0.2 percentage points to 5.4 percent. Compared to September last year, the number of unemployed rose by 21,000.

The CEO of the Federal Agency, Andrea Nahles, said in Nuremberg: “Despite rising prices and concerns about energy shortages, the labor market remains stable overall. Unemployment and underemployment fell at the start of the autumn recovery. However, the demand for labor is falling slightly at a very high level.”

Seasonally adjusted, the number of unemployed increased by 14,000 as of the September 12 survey date. “The increases are also related to the registration of unemployed Ukrainian refugees. Without people with Ukrainian nationality, the development would have been much better,” said the BA.

Experts had expected stable development despite the economic downturn and point to the high demand for labor in Germany. The leading German research institutes expect that companies will try to keep their employees despite the expected recession.

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However, according to the BA, more companies have recently asked about the framework conditions for short-time work. In addition, fewer vacancies are being reported: the previously high demand for workers fell significantly in September. The labor market barometer of the Nuremberg Institute for Labor Market and Occupational Research fell to its lowest level since 2020 in September.

Federal Statistical Office: Labor market is stagnating

The Federal Statistical Office also published figures on the labor market on Friday and is much more cautious. In August, the number of employed persons residing in the Federal Republic stagnated at around 45.4 million.

“This means that the seasonally adjusted number of employed persons has not increased for the first time in a year and a half.” Adjusted for seasonal fluctuations, there was even a minimal decline of 6,000 (0.0 percent). In the months of April to July there was a monthly increase of 34,000 to 20,000 people.

Even without seasonal adjustment, the number of people in employment in August fell to a similar extent in July (minus 7,000 people; 0.0 percent). Compared to the August average of the three pre-crisis years 2017 to 2019, however, there was an increase of 22,000 people.

“November 2019, with 45.5 million people in employment, marks the highest level of employment in Germany to date.” The Federal Employment Agency presented the September data for the job market in the morning.

More: Companies want to hire fewer employees

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