According to current figures from the Federal Employment Agency, the unemployment rate for Germany was 5.7 percent in October. How does it look in the euro area?
Unemployment in the euro area has risen slightly from historically low levels. The unemployment rate increased by 0.1 percentage points to 6.5 percent in September of the current year compared to the previous month, as the Eurostat statistics office announced in Luxembourg on Friday.
The statistics office estimates the number of unemployed people in the 20 countries with the common currency at a total of around 11.0 million. That is around 69,000 more than in the previous month. The number fell by around 212,000 year-on-year. The youth unemployment rate also rose by 0.1 percentage points to 14.0 percent within a month and is therefore significantly higher than overall unemployment.
The labor market situation is very different regionally: Spain (12.0 percent) and Greece (10.0 percent) had the highest unemployment rates in the Euro countries in September. Germany has one of the lowest values at 3.0 percent. The rate is lowest in Malta at 2.8 percent.
Eurostat’s labor market data is based on figures from the International Labor Organization (ILO). The rate for Germany is therefore significantly lower than the value reported by the Federal Employment Agency (BA). According to figures from the Nuremberg authorities on Thursday, the unemployment rate for Germany was 5.7 percent in October.
Source: Stern
