The unemployment rate fell to 5.3 percent.
(Photo: dpa)
Nuremberg The number of unemployed in Germany fell to 2.428 million in February. That is 34,000 fewer than in the previous month and 476,000 fewer than in February 2021, as the Federal Employment Agency announced on Wednesday.
The rate fell by 0.1 points to 5.3 percent. “The job market continued its upward trend until February,” said BA boss Detlef Scheele. “However, the current indicators do not yet reflect the war in Ukraine.”
The cut-off date for the February statistics was February 14th. Economists expect that the Russian attack on Ukraine will slow down the recovering economy in Germany. The labor market could therefore continue to be robust.
Current data on short-time work is available up to February 24th. According to this, the BA registered 18,000 advertisements for 201,000 people in the period. According to the authority, these numbers will increase until the end of the month, but are likely to be below the level in January, when there were 29,000 ads for 327,000 people.
Top jobs of the day
Find the best jobs now and
be notified by email.
Experience has shown that fewer companies take advantage of short-time work than indicated. Data on how many companies actually used them is available up to December. According to the preliminary extrapolated data, short-time work benefits were paid for 614,000 employees. Thus, the numbers continued to decline in December.
More: Entrepreneurs organize jobs, donations and shelter for Ukrainian refugees