Latest news with #BundesagenturfürArbeit
Local Germany
29-05-2025
- Business
- Local Germany
Concerns about Germany's job market grow as unemployment falls only slightly
The unemployment rate fell by 0.1 percentage points month on month to 6.2 percent in May, the latest data from Germany's Employment Agency (Bundesagentur für Arbeit, BA) in Nuremberg showed on Wednesday. The number of unemployed people in Germany fell by 12,000 to 2.919 million in May from the previous month, But numbers are up when compared to May 2024: there were around 197,000 more unemployed people in May 2025 than a year earlier. "The labour market is not getting the tailwind it needs to reverse the trend. Therefore, we expect unemployment figures to continue to rise during the summer," BA head Andrea Nahles said on Wednesday. Minister for Labour and Social Affairs Bärbel Bas (SPD) also expressed concern: "The tense economic situation is particularly evident in industry. Jobs are currently at risk in many companies," she said, adding that Germany urgently needed "economic policy stimulus." The number of so-called underemployed people, which includes not only the unemployed but also participants in labour market policy measures and those on short-term sick leave, stood at 3.602 million in May, the Bundesagentur für Arbeit said. This was approximately 58,000 more than in May 2024. READ ALSO: How many German companies are planning to cut jobs in 2025? Analyst Martin Müller of the KfW banking group thinks a turnaround this year is unlikely. "The labour market continues to suffer from the German economy's sales and cost problems," he said, explaining that due to a long period of stagnation, many companies are hesitant to hire new staff. Advertisement However, there is "the prospect" that the investment packages announced by the government will trigger a "noticeable economic stimulus" in the coming years, he said. Bas also pointed to the measures announced by the black-red coalition. The labour market figures "also show how important the new government's economic stimulus and investment programme is," the minister said. Among other things, the government is planning a €500 billion special fund for investments in infrastructure and climate protection. Businesses, meanwhile, called for lower social security contributions and criticised government plans to raise the minimum wage. A "government-led and thus misguided wage policy" would "nip any emerging easing in the labour market in the bud," said Rainer Dulger, President of the Confederation of German Employers' Associations. Lower social spending is "the better path to a healthy labour market," he added. And the German Trade Union Confederation (DGB) board member Anja Piel said continuing education was "the safest means to secure jobs" in uncertain times, adding that it was the right time for a "qualification offensive" by the Bundesagentur für Arbeit and job centres.
Yahoo
28-02-2025
- Business
- Yahoo
German manufacturing woes continue to keep unemployment rate high
Germany's unemployment rate came in at 6.2% in February, which was in line with expectations, as well as being the same as in January, according to official data from the Bundesagentur für Arbeit. February's figure also stayed at the highest level since October 2020. The number of people without jobs hit 2.9 million, a rise of 5,000, which was less than analyst expectations of a 15,000 increase. Germany has faced increasing job losses in the manufacturing sector in recent years, since the start of the pandemic. Europe's largest economy continues to struggle with weakening demand and a dampened economic outlook. This has mainly been because of higher energy costs, as well as growing pressure from Chinese competitors. Ongoing high inflation and interest rates have also led to wavering consumer confidence. The country faces increasing risks of deindustrialisation, with several industrial groups choosing to relocate overseas, in search of more investors, increased liquidity and more business opportunities. The German month-on-month retail sales for January inched up 0.2%, bouncing back from a 1.6% fall in December, according to official figures from the Federal Statistical Office. This was ahead of analyst expectations of no change. The boost was mainly because of food sales inching 1.5% higher, although non-food retail sales dropped 0.2%, with mail-order sales and e-commerce also plummeting 4.2%. Related UK house prices see rise for sixth month in a row, says Nationwide Inflation in France hits its lowest level in four years in February Retail sales advanced 2.9% on an annual basis in January, inching up from a 2.8% growth in December. This was primarily because of food sales rising 1.5%, along with non-food sales increasing 3.7%. Internet sales also experienced robust growth, jumping 11.5%, as online demand surged. German gross domestic product (GDP) dropped 0.2% quarter-on-quarter in the last quarter of 2024, according to final estimates by the Federal Statistical Office. This was down from a 0.1% growth in the previous quarter, and was in line with market expectations. The fall was mainly because of drops in net trade, with exports declining 2.2%, although imports inched up 0.5%. Household consumption growth also lagged in the fourth quarter, coming in at 0.1%, down from 0.2% in the previous quarter. Government spending came in at 0.4%, a marked decrease from 1.5% in the previous quarter. However, fixed investments bounced back, coming in at 0.4% in the fourth quarter of 2024, up from -0.5% in the last quarter, mainly boosted by advancements in construction investment. The forestry, agriculture and fishing sector also decreased, along with manufacturing. German GDP dropped -0.2% on an annual basis in Q4 2024, which was up from -0.3% in the previous quarter and was in line with market consensus. Sign in to access your portfolio
Euronews
28-02-2025
- Business
- Euronews
German manufacturing woes continue to keep unemployment rate high
Germany's unemployment rate came in at 6.2% in February, which was in line with expectations, as well as being the same as in January, according to official data from the Bundesagentur für Arbeit. February's figure also stayed at the highest level since October 2020. The number of people without jobs hit 2.9 million, a rise of 5,000, which was less than analyst expectations of a 15,000 increase. Germany has faced increasing job losses in the manufacturing sector in recent years, since the start of the pandemic. Europe's largest economy continues to struggle with weakening demand and a dampened economic outlook. This has mainly been because of higher energy costs, as well as growing pressure from Chinese competitors. Ongoing high inflation and interest rates have also led to wavering consumer confidence. The country faces increasing risks of deindustrialisation, with several industrial groups choosing to relocate overseas, in search of more investors, increased liquidity and more business opportunities. German retail sales look up slightly - driven by food sales The German month-on-month retail sales for January inched up 0.2%, bouncing back from a 1.6% fall in December, according to official figures from the Federal Statistical Office. This was ahead of analyst expectations of no change. The boost was mainly because of food sales inching 1.5% higher, although non-food retail sales dropped 0.2%, with mail-order sales and e-commerce also plummeting 4.2%. Retail sales advanced 2.9% on an annual basis in January, inching up from a 2.8% growth in December. This was primarily because of food sales rising 1.5%, along with non-food sales increasing 3.7%. Internet sales also experienced robust growth, jumping 11.5%, as online demand surged. German economy lags in last quarter of 2024 German gross domestic product (GDP) dropped 0.2% quarter-on-quarter in the last quarter of 2024, according to final estimates by the Federal Statistical Office. This was down from a 0.1% growth in the previous quarter, and was in line with market expectations. The fall was mainly because of drops in net trade, with exports declining 2.2%, although imports inched up 0.5%. Household consumption growth also lagged in the fourth quarter, coming in at 0.1%, down from 0.2% in the previous quarter. Government spending came in at 0.4%, a marked decrease from 1.5% in the previous quarter. However, fixed investments bounced back, coming in at 0.4% in the fourth quarter of 2024, up from -0.5% in the last quarter, mainly boosted by advancements in construction investment. The forestry, agriculture and fishing sector also decreased, along with manufacturing. German GDP dropped -0.2% on an annual basis in Q4 2024, which was up from -0.3% in the previous quarter and was in line with market consensus.
