Autumn revival is low
The number of unemployed fell only slightly in September
September 29, 2023, 10:28 a.m
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Unemployment does decrease in September. However, the difference is smaller than is usual for the time of year. The demand for workers in Germany, on the other hand, remains very high.
The number of unemployed in Germany fell only slightly in September compared to August, by 69,000 to 2.627 million. That is 141,000 more unemployed than at the same time last year, said the Federal Employment Agency in Nuremberg. The rate fell by 0.1 points to 5.7 percent compared to August. Compared to September 2022, the rate increased by 0.3 points. For its September statistics, the Federal Agency used data that was available up to September 12th.
“The beginning of the autumn revival is comparatively small this year,” said Daniel Terzenbach, board member of the Federal Employment Agency. In economic policy, the autumn revival refers to a positive development in the national economy and on the labor market, which can be observed regularly in autumn. “Unemployment and underemployment are decreasing, but less than usual in September.” In principle, the German labor market is still stable, said Terzenbach.
The demand for workers in Germany remains very high and there is a shortage of staff in many places. The Federal Agency reported the number of vacancies in September as 761,000. However, demand is also falling slightly. A year ago, the number of reported unfilled positions was 113,000 higher. However, with 45.99 million people in August, 347,000 more people were employed than a year ago.
Figures for September are not yet available for employment. The development of short-time work currently does not provide any clear information about the situation in companies. The most recent reliable data from July show that the BA paid short-time working benefits for 124,000 people. In June there were 158,000 and in May 156,000. Companies registered for a further 50,000 short-time work between September 1st and 23rd. It is not clear whether this was actually used.