In a surprising turn of events, German unemployment declined in July, displaying resilience in the labor market despite challenging economic conditions.
According to the Federal Labor Office, the number of unemployed individuals decreased by 4,000 in seasonally adjusted terms, reaching 2.604 million. This figure defied expectations, as analysts polled by Reuters had predicted a rise of 20,000.
However, the office noted that if Ukrainian nationals were not included in the data, there would have been an increase in joblessness due to the weak economic environment.
The seasonally adjusted jobless rate also dropped to 5.6 percent.
“Companies’ demand for labor remains restrained,” stated Andrea Nahles, the head of the labor office.
Compared to July 2022, the number of unemployed individuals is now 147,000 higher.
In July, there were 772,000 job openings, which is 108,000 fewer than the previous year. Despite this decline, the Federal Labor Office noted that labor demand remained at a high level.
Your subscription could not be saved. Please try again.
Your subscription has been successful.
Read Next
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
For feedback, complaints, or inquiries, contact us.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
