Berlin: Germany’s unemployment rate held steady at 6.2 percent in June, as reported by the Federal Employment Agency. The total number of unemployed individuals registered during the month was 2.914 million, marking a slight decrease of 5,000 compared to May.
According to Namibia Press Agency, while there was a minor month-on-month improvement, officials have expressed concerns about the ongoing impact of a sluggish economy on the labor market. Compared to the same month last year, there was an increase of 188,000 unemployed individuals in June, resulting in a 0.4 percentage point rise in the unemployment rate.
Andrea Nahles, chairwoman of the Federal Employment Agency, remarked on the signs of economic weakness persisting in the labor market. She emphasized that although unemployment trends are unfavorable, companies remain hesitant to expand their workforce.
The number of job vacancies in June fell to 632,000, showing a year-on-year decline of 69,000, which underscores the reduced demand for labor. Additionally, German firms reported filing for short-time work for 35,000 employees between June 1 and 25, attributing this to ongoing economic challenges.