The number of unemployed in Germany in January 2025 reached almost three million, which was a record for the last decade.
This is reported by DW with reference to the Federal Employment Agency.
According to official data, the unemployment rate in Germany increased by 0.4 points since December 2024 and reached 6.4%. This means that the number of unemployed in the country increased by almost 200 thousand more compared to the previous year and reached 2.993 million. The sharp rise in unemployment in January is typical, as many seasonal labor contracts end with the New Year and weather-dependent work, such as in construction, comes to a halt.
At the same time, German employers see the data released by the Federal Employment Agency as a worrying signal.
According to Rainer Dulger, president of the Confederation of German Employers’ Associations of Germany, “the economic and structural weakness of the German economy is hitting the labor market with all its might.”
Unemployment in the euro zone in December last year amounted to 6.3% compared to the all-time low of 6.2% a month earlier, the statistical office of the European Union said. Analysts had also expected 6.3%, according to Trading Economics. The November level, meanwhile, was revised up from 6.3%. By comparison, unemployment was 6.5% in December 2023.
The number of unemployed in the region rose by 96,000 in December from the previous month to a three-month high of 10.83 million.
The unemployment rate among young people (population under 25) fell to 14.8% from 14.9%.
The lowest unemployment rate among the largest eurozone countries was recorded in Germany (3.4%, the same as a month earlier), the highest – in Spain (10.6% vs. 10.7% in November). In France, unemployment in December increased by 0.1 percentage points and reached 7.8%, in Italy – increased by 0.3 p.p. to 6.2%.
In the European Union as a whole, unemployment stood at 5.9% last month, up from 5.8% in November. It stood at 6% in December 2023.
Earlier, the Experts Club think tank and Maxim Urakin released a video analysis on the state of the economy and debt in the world, see more on the YouTube channel:
In 2024, Italy demonstrated a significant decline in the unemployment rate, reaching levels unseen in more than a decade. According to the National Institute of Statistics (ISTAT), in October 2024, the unemployment rate fell to 5.8%, the lowest since April 2007.
Between 2019 and 2024, the unemployment rate in Italy showed a gradual decline:
2019: around 9.9%.
2020: increase to 9.3% amid the COVID-19 pandemic
2021: a decrease to 9.5%.
2022: further decline to 8.1%.
2023: further decline to 7.3% in August
2024: reaching 5.8% in October
Among the key factors contributing to the decline in unemployment in Italy are: economic growth, gradual economic recovery after the pandemic contributed to the creation of new jobs. In addition, government programs and initiatives aimed at supporting employment and stimulating the labor market, as well as growth in the tourism and service industries, which are traditionally important for the Italian economy, contribute to the reduction of unemployment.
Despite the overall decline in the unemployment rate, the problem of youth employment remains relevant. In October 2024, the unemployment rate among people aged 15 to 24 was 17.7%, which, however, is lower than the 18.9% rate in September of the same year.
Economists note that despite the positive trends, there are risks associated with a slowdown in economic growth, especially in the industrial sector. According to ISTAT, in the third quarter of 2024, Italy’s GDP remained at the same level, which may indicate a possible economic slowdown in the future.
Thus, although Italy has made significant progress in reducing unemployment over the past five years, further improvement in the labor market will depend on the sustainability of economic growth and the effectiveness of the reforms.
The German labor market faced significant challenges in 2024, reflecting the country’s overall economic difficulties. The seasonally adjusted unemployment rate rose to 6.1% in October, the highest since February 2021. The number of unemployed people reached 2.856 million, an increase of 27 thousand compared to the previous month.
Despite strong labor demand in a number of industries, opportunities for the unemployed to find work are recovering slowly. Industry is expected to continue to cut jobs, while demand for specialists in other sectors remains high.
In 2024, Germany introduced a new unemployment benefit, Bürgergeld, which replaced the former Arbeitslosengeld II. In 2024, the benefit amount was increased to € 563.
Thus, 2024 was a period of significant challenges in the labor market for Germany, driven by both internal economic factors and external challenges. The government and business will have to work together to find solutions to stabilize employment and support unemployed citizens.
Source: http://relocation.com.ua/riven-bezrobittia-v-nimechchyni-zbilshyvsia-do-6-1-u-zhovtni/
Unemployment in the euro area in September amounted to the lowest ever recorded at 6.3%, according to the European Union Statistical Office. The August figure was revised from 6.4% to 6.3%. According to Trading Economics, analysts had expected unemployment last month to be 6.4%.
In September 2023, unemployment in the euro area was at 6.6%.
The number of unemployed in the region last month increased by 13 thousand compared to August, to 10.884 million. Youth unemployment (population under 25) rose to 14.4% from a revised 14.3% a month earlier.
The lowest unemployment rate among the largest eurozone countries was recorded in Germany (3.5%, the same as a month earlier), and the highest in Spain (11.2%, down 0.1 percentage point). In France, the unemployment rate increased by 0.1 percentage points to 7.6% in September, while in Italy it remained unchanged at 6.1%. Overall, in the European Union, unemployment last month amounted to 5.9%, the same as in August.
Unemployment in the eurozone was 6.4% in August, unchanged from the July level, according to the European Union Statistical Office. This is the lowest figure since the calculations were made. The data coincided with the consensus forecast of analysts cited by Trading Economics.
In August 2023, unemployment in the euro area was at 6.6%. The number of unemployed people in the region decreased by 95 thousand in the month before last compared to July, to 10.925 million. Youth unemployment (population under 25) fell to 14.1% from 14.2% a month earlier.
The lowest unemployment rate among the largest eurozone countries was recorded in Germany (3.5%, the same as in July), and the highest in Spain (11.3%, down 0.1 percentage point). In France, the unemployment rate remained unchanged at 7.5% in August, while in Italy it dropped to 6.2% from 6.4%.
Overall, in the European Union, unemployment fell to 5.9% last month from 6% in July.
