The seasonally adjusted number of unemployed in Germany has slightly increased in August compared to the previous month, reported today by the Federal Employment Agency (BAA), pointing to the abolition of certain labor market support measures.
When considering seasonally conditioned factors, the number of unemployed has risen this month by seven thousand compared to July, totaling 2.943 million. The unemployment rate has remained unchanged for the fourth consecutive month at 6.8 percent.
The total number of unemployed has increased by 32 thousand, with 2.946 million Germans out of work. The corresponding unemployment rate has not changed compared to the previous month and also stands at 6.8 percent.
The labor demand indicator remained unchanged in August compared to the previous month, after having slightly increased in the previous two months.
The labor market situation remains stable, the BAA states, linking the slight increase in unemployment to reduced state support through labor market measures.
They remind that economic activities in the second quarter increased by 0.7 percent compared to the previous three months and expect a continuation of the upward trend.
The head of the BAA estimates that the slight acceleration of economic activities at the beginning of summer is not sufficient for a significant boost in employment. “We see that the state of the economy supports the labor market but not as much as we expected,” stated Frank-Juergen Weise. Economic activities will improve in the second half of the year, but “better does not mean dynamic,” he emphasized.
