Photo: (Volker Weihbold)
According to data from the Public Employment Service, 333,954 people were unemployed or in training at the end of the month, which is 1,933 people or 0.6 percent fewer than in the previous year.
According to national calculations, the unemployment rate was 6.2 percent and thus 0.2 percentage points lower than in March 2022. The number of vacancies also fell.
“Although the economic rally is obviously over, the AMS can once again – and thus for the 25th time in a row – announce falling unemployment,” said AMS boss Johannes Kopf about the development. However, around half of the federal states and young people are already showing rising unemployment figures. According to Kopf, a slowdown is to be expected in the coming months.
However, the prospects are not really bleak. The economic experts from the Economic Research Institute (Wifo) and the Institute for Higher Studies (IHS) expect stable development on the labor market for the year as a whole. Wifo expects the national unemployment rate to rise by 0.1 percentage points to 6.4 percent, while the IHS expects it to move sideways, as can be seen from its most recently published economic forecast.
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