The number of unemployed in Germany fell by 43,000 to 2,442,000 in October compared to the previous month, which is typical for the season. However, it is 65,000 higher than at the same time last year, the Federal Employment Agency announced on Wednesday in Nuremberg. The unemployment rate fell by 0.1 points to 5.3 percent.
Despite the generally difficult economic environment, the labor market in Germany remained stable in October. In the course of the autumn revival, the number of unemployed fell by 43,000 to 2.442 million people compared to September, as the Federal Employment Agency (BA) announced on Wednesday in Nuremberg.
The unemployment rate fell in October compared to the previous month by 0.1 percentage points to 5.3 percent. According to the BA, it was around 65,000 higher than in October of the previous year; the unemployment rate in October 2021 was 5.2 percent.
BA boss Andrea Nahles described the development of the German labor market in the past month as “robust”. Above all, employment continues to grow, she explained in Nuremberg. However, the “consequences of economic uncertainties” are visible. More companies are currently preparing for possible short-time work and are reducing their demand for new staff.
