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Germany Today

German news in English

Friday, November 22, 2024

Germany's Job Market Stagnates in October

Published: 2024-10-30

Germany's job market showed little improvement in October, with the number of unemployed individuals decreasing slightly by 16,000 to 2.791 million, according to the Federal Employment Agency.

This figure is 183,000 higher than the same period last year, and the unemployment rate remained steady at 6%.

The expected autumn boost in employment was notably absent, marking the smallest decline in unemployment for October in two decades.

Seasonally adjusted figures even showed an increase of 27,000 unemployed individuals.

The demand for labor also fell, with 689,000 job vacancies reported, 60,000 fewer than the previous year.

Experts attribute this stagnation to ongoing economic uncertainties.