Nuremberg, Nov. 2, (dpa/GNA) - German unemployment figures fell in October by a dampened 43,000 compared to the previous month, reaching an overall 2.44 million, in an early indication of the economic downturn looming over Europe’s largest economy.
Despite the seasonally expected fall in unemployment, a total of 65,000 more people were out of work in October than at the same time last year, the Federal Employment Agency announced in Nuremberg. The unemployment rate decreased by 0.1 points to 5.3%.
At the same time, an overall 34.57 people were on company payrolls, over half a million more than at the same time last year, said agency chief Andrea Nahles, noting that companies were doing a lot to retain skilled workers.
Nonetheless, Nahles spoke of a turning point, noting that the refugee influx from Ukraine was no longer a key driver for the number of newly unemployed and that “short-time” work schemes aimed at keeping staff financially afloat on reduced hours were not being rolled back.
This is in part due to increasing economic uncertainty, Nahles noted. In August, short-time work benefits were requested for 106,000 people, according to the agency. Between October 1-26, requests were filed for a further 82,000 workers.
The market for traineeships also showed a growing gap between supply and demand.
“Never since reunification has the chances of finding a traineeship been so good. However, the hiring difficulties for companies have increased noticeably,” Nahles said.
By September, the Federal Employment Agency had been notified of 546,000 vocational training places – 23,100 more than at the same time last year. Meanwhile, there were just 422,400 applicants this year, 11,100 fewer than last year. By the end of September, 68,900 places had not been filled.
GNA