Normally, the labor market recovers significantly in September after the summer lull. This year, the Federal Employment Agency is reporting only a slight improvement.
The number of unemployed in Germany fell only slightly in September compared to August, by 69,000 to 2.627 million. The Federal Employment Agency reports that this is 141,000 more unemployed than at the same time last year.
The rate fell by 0.1 points to 5.7 percent compared to August. Compared to September 2022, the rate increased by 0.3 points. For its September statistics, the Federal Agency used data that was available up to September 12th.
“The beginning of the autumn revival is comparatively small this year,” said Daniel Terzenbach, board member of the Federal Employment Agency. “Unemployment and underemployment are decreasing, but less than usual in September.” In principle, the German labor market is still stable, said Terzenbach.
761,000 job vacancies in September
The demand for workers in Germany remains very high and there is a shortage of staff in many places. The Federal Agency reported the number of vacancies in September as 761,000. However, demand is also falling slightly.
A year ago, the number of reported unfilled positions was 113,000 higher. However, with 45.99 million people in August, 347,000 more people were employed than a year ago. Figures for September are not yet available for employment.
The development of short-time work currently does not provide any clear information about the situation in companies. The most recent reliable data from July show that the BA paid short-time working benefits for 124,000 people. In June there were 158,000 and in May 156,000. Companies registered for a further 50,000 short-time work between September 1st and 23rd. It is not clear whether this was actually used.
Source: Stern
