A total of 3.02 million people were unemployed in August in seasonally unadjusted terms, with an increase of 46 000 in the number of people out of work from the previous month.
“The labour market is still shaped by the economic slump of recent years,” said Labour Office Head Andrea Nahles.
Germany has been struggling with a persistently weak economy, and United States President Donald Trump’s import tariffs could lead to a third year without growth for the first time.
The seasonally adjusted jobless rate remained stable at 6.3%, in line with analysts’ forecast in a Reuters poll.
But labour demand is slowing. There were 631 000 job openings in August, 68 000 fewer than a year ago.
“The global economic uncertainties and Russia’s war of aggression against Ukraine are still leading to economic weakness,” Labour Minister Baerbel Bas said. ”
“The cyclical headwinds continue to leave their mark on the labour market and require countermeasures.”
Bas said the government was providing a big investment boost for the economy, including $585 billion special fund for infrastructure, after loosening fiscal rules.
But economists and business associations say it will take years for the spending to fully take effect, and extra measures are needed to address the deep-rooted structural problems in Europe’s biggest economy.
–Reuters–
