Number of Unemployed in Germany Continued to Rise in August, Surpassing the 3 Million Mark
According to data from the German Federal Employment Agency, the number of unemployed in the country increased by 54,000 in August compared to the previous month, reaching 3,061,000, and the unemployment rate rose to 6.5 percent.
The unemployment rate in Germany rose to 6.5 percent in August, while the total number of unemployed reached 3,061,000, marking an increase of 54,000 compared to the previous month. Data released by the Federal Employment Agency (BA) revealed that the upward trend in unemployment, which began during the summer period, continues.
Increase in Unemployment Rate Continues
According to August data released by the Federal Employment Agency, the number of unemployed in Germany increased by 54,000 compared to the previous month and by 36,000 compared to the same period of last year. With this increase, the total number of unemployed in the country was recorded at 3,061,000.
The unemployment rate, which stood at 6.4 percent in July, rose to 6.5 percent in August. Due to the effect of the summer holiday period, the number of unemployed in the country had surpassed the 3 million mark in July for the first time since April.
Federal Employment Agency and Expert Evaluations
Federal Employment Agency President Andrea Nahles stated that the sluggish course in the labor market continues, noting that the market did not show significant dynamism in August beyond traditional seasonal effects.
Experts point out that the steady increase in unemployment observed since July stems from seasonal effects as well as cyclical weakness in the economy. However, it is anticipated that recently increasing growth signals in the economy could positively reflect on the labor market in the future.