The number of unemployed people in Germany fell below the 3 million mark in May, 4 months later.
The German Federal Employment Agency (BA) announced May data on unemployment figures.
Accordingly, the seasonally adjusted number of unemployed people in the country decreased by 12 thousand in May compared to April, falling to 2.95 million. Thus, the number of unemployed people in the country fell below this level again in May, after remaining above the 3 million mark for 4 consecutive months.
The seasonally adjusted unemployment rate also decreased by 0.1 point to 6.3 percent in May.
“SPRING REVIVAL HAS NOT GAINED MOMENTUM”
Federal Employment Agency President Andrea Nahles, whose views were included in the statement, emphasized that despite the decrease in unemployment, it is too early to talk about a permanent turning point in the labor market.
Nahles said, “Despite the decline in unemployment, the revival expected in the spring this year could not fully gain momentum.” made his assessment.
Meanwhile, companies’ demand for new labor in the country remained stable. In May, companies’ vacant positions increased by 8 thousand compared to the same month of the previous year, reaching 643 thousand. On the other hand, while the number of people receiving unemployment benefits in the country increased by 113 thousand compared to last year, reaching 1 million 73 thousand, the number of those who were able to work but received basic subsistence assistance because their income was insufficient decreased by 103 thousand compared to last year, falling to 3.83 million.
