The number of unemployed people in Germany has increased to over 2.6 million
The number of unemployed people in Germany rose to over 2.6 million in July. While the rise in unemployment rates in this month is normal due to the summer months, the country’s weak economy is casting a larger shadow this year than last year.
Andrea Nahles, the head of the Federal Employment Agency, said that the demand for labor remains very dispersed, with a clear decline in demand for labor in the current circumstances.
According to the Federal Employment Agency, the number of unemployed people in Germany rose to 2.617 million in July, up 62,000 from the previous month and 147,000 from the same period in the previous year.
As a result, the unemployment rate rose by 0.2 percentage points in July to reach 5.7 percent.
Andrea Nahles confirms that the weak economy has clear effects, saying:
“With the start of the summer season, we saw an increase in unemployment and underemployment rates in July.”
Unemployment includes individuals who are participating in programs such as integration courses, and July is usually a high month for unemployment due to the end of training contracts and the decline in business activity during the holiday season.
The increase in the number of unemployed people is in line with expectations for July, as the labor market typically slows down in the summer. When adjusted for seasonal factors, the number of unemployed people fell by 4,000.
However, even without taking into account the impact of Ukrainian refugees, the data show that unemployment has increased due to the country’s weak economy. The latest statistics were collected on July 12.
Nals adds that labor demand remains weak, with the Federal Labor Office reporting 772,000 vacant positions in July, down 108,000 from the same period last year.
The number of insured workers in Germany rose to 34.7 million in May, an increase of 253,000 from the previous month. However, the Federal Employment Agency said that the increase was due only to foreign workers.
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