Labor market: Three million unemployed – Improvement in sight?
Summer break and weak economic trends are putting pressure on the job market. However, there is hope that it could pick up again.
Germany's unemployment rate remains above 3 million, with 3.061 million people jobless in August, a rise of 54,000 from the previous month, according to the Federal Employment Agency. The agency's chair, Andrea Nahles, attributes the increase to the summer break and expects a decline in September due to seasonal factors. The unemployment rate rose to 6.5% and Nahles warns that a trend reversal in the job market is not imminent.
The agency forecasts a deficit of over 10 billion euros by the end of the year, which could decrease with an economic upswing.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
