Latest news with #Nahles
Business Times
3 days ago
- Business
- Business Times
US tariff policy could cost Germany 90,000 jobs within a year
[BERLIN] US tariff policy could cost Germany 90,000 jobs within a year, the country's labour office head told Sueddeutsche Zeitung newspaper in an interview released on Friday (Jun 6). Federal Employment Agency chief Andrea Nahles was citing the Institute for Employment Research (IAB) and other institutes, which conducted research on the effect of a 25 per cent tariff rate. 'The problem is this lack of predictability, which is doing us massive damage – it prevents companies from investing, hiring and training people,' Nahles told the newspaper. 'The erratic trade policy of the USA is a burden on the German labour market.' Last month, unemployment in Europe's largest economy rose at a faster pace than expected, with the number of people out of work approaching the 3 million mark for the first time in a decade. Economic malaise in Germany has put pressure on the job market even against a backdrop of long-term labour shortages, adding to pressure on conservative Chancellor Friedrich Merz, who has vowed to pull the economy out of a two-year decline. US President Donald Trump's tariffs could deal a major blow to those efforts – possibly putting the German economy on track for a third straight year of recession, for the first time in the country's post-war history. REUTERS
Yahoo
28-05-2025
- Business
- Yahoo
German unemployment rate dips to 6.1%, but outlook remains gloomy
Unemployment in Germany dipped slightly in May, official figures showed on Tuesday. The unemployment rate dropped by 0.1 percentage point to 6.2%, the Federal Employment Agency said, with the number of jobless people falling by 12,000 to 2.919 million. The figure was 197,000 higher than in May 2024. The Nuremberg-based agency's chairwoman, Andrea Nahles, said the results showed that the usual spring bump in employment has failed to materialize this year, with economists concerned that the country could be facing a third consecutive year of recession. "The labour market is not getting the tailwind it needs for a turnaround. We therefore expect unemployment figures to continue to rise in the summer," said Nahles. Meanwhile, Germany continues to suffer from a major shortage of skilled workers. Around one in eight professions are experiencing employment bottlenecks, the agency said. "The shortage of skilled labour remains a key challenge for Germany as a business location," said Nahles. Nursing and healthcare professions were particularly affected last year, as well as construction and skilled trades. There was also strong demand for lorry drivers and teachers. A total of 634,000 job vacancies were registered with the Federal Employment Agency in May, around 67,000 fewer than a year ago.
