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Germany Today

German news in English

Friday, January 31, 2025

German Job Market Faces Winter Woes

Published: 2024-11-29

The German job market is showing signs of strain as the economic downturn continues to impact employment.

In November, the unemployment rate slightly decreased to 5.9%, with 2.774 million people unemployed, a drop of 17,000 from October.

However, this decline is minimal compared to typical seasonal trends.

The number of unemployed is 168,000 higher than in November 2023, indicating a troubling trend.

The Bundesagentur für Arbeit warns that unemployment could reach three million this winter, a level not seen in nearly a decade.

Structural issues in industries and global economic pressures are contributing to this situation.

Meanwhile, the demand for labor has decreased, with 668,000 job vacancies reported, 65,000 fewer than last year.

The rise in short-time work, with 268,000 employees receiving benefits in September, highlights the ongoing challenges in the labor market.