Unemployment Increases in Germany

The number of unemployed in Germany rose slightly in December, even though low-level than analysts expected. Meanwhile, the unemployment rate in 2023 was the lowest since the German reunification, according to data published on January 3rd.

The Federal Employment Agency said the number of unemployed persons in December increased by 5,000, bringing the number of unemployed to 2.7 million.

According to Reuters analysis, unemployment was expected to increase by 20,000.

“The labour market is still well with regard to cargo and confusion”, said the agency's leader, Andrea Nahles.

In December of last year, Germany's unemployment rose by 5.9 percent.

If we look at the year 2023, we can see that the weakened economy has not left the labour market unscathed”, Nahles said, stressing that last year was one of the years with the lowest unemployment since the German reunion.

The number of unemployed increased by 191,000 in 2023, compared to a year ago.

The demand for labor force declined in the second part of 2022, and this trend continued in 2023. However, demand for labor power continues to be high if comparisons are made in long - term terms.

In 2023, an average of 761,000 jobs were opened, or 84,000 less than in the preceding year, the German agency said. / REL/