The economic prospects are bleak, the consequences of the Ukraine war are causing problems for the German economy. Nevertheless, there is positive news from the job market: More people have found a job again.
Düsseldorf (dpa / lnw) - Despite subdued economic expectations, the situation in North Rhine-Westphalia's labor market improved somewhat at the beginning of autumn. The unemployment rate was 7.0 percent in September and was thus 0.1 percentage points lower than in August, as the regional directorate of the Federal Employment Agency announced on Friday in Düsseldorf. 681,795 people were registered as unemployed in the federal state in mid-September, 1.8 percent fewer than in the previous month.
The rate usually falls more sharply in September because more people are finding jobs or starting an apprenticeship after the summer. In September 2021, for example, it fell by 0.3 percentage points compared to August, at that time also to 7.0 percent. This year's only slight monthly decline of 0.1 percentage points was partly due to the fact that 40,500 Ukrainians are now registered as unemployed in NRW. "Your transition into employment will take place step by step," said agency regional manager Torsten Withake.
All in all, the head of the authorities rated the development on the labor market as "robust". "The labor market has developed seasonally, but not quite as dynamically as we are used to in the first month of the autumn recovery."
Economic researchers recently pointed to bleak prospects, they see Germany on the way to recession. The employment agencies found that companies are already becoming somewhat more reluctant to hire new people. Rising energy and raw material costs as well as material bottlenecks are "dampening factors," the statement said. In addition, high inflation is reducing expectations in retail.
With a view to the coming months, Withake expressed the hope that the economic developments will not leave too deep a mark on the labor market. "Companies will try to keep their qualified employees, even if business is not going well for a while," said the NRW regional head of the employment agency.
