The labor market in Germany is stable - although the federal agency reports a good 100,000 more unemployed than in November a year ago, refugees from Ukraine are likely to be responsible for the increase.
The number of unemployed in Germany in November was a good 100,000 higher than in the same month last year. According to the Federal Employment Agency, 2.434 million people were unemployed in November, which is 8,000 fewer than in October, but 117,000 more than a year ago. Refugees from Ukraine continue to influence the labor market. According to the Federal Agency, 189,000 people from Ukraine are currently unemployed.
The unemployment rate is thus unchanged at 5.3 percent. However, it is 0.2 points higher than in November 2021. "Overall, the labor market is stable. Unemployment and underemployment have risen again after seasonal adjustment and short-time work is increasing again, but employment is growing significantly," said Daniel Terzenbach, board member of the Federal Agency for work in Nuremberg.
The Federal Agency is again noticing an increase in short-time work. From November 1st to 24th, employers announced short-time work for 82,000 employees. Data on short-time work benefits actually paid out is only available up to September. In that month, the Federal Agency paid short-time work benefits for 157,000 employees. That is more than twice as many as in August.
The willingness of companies to hire is still high, but has weakened somewhat, the Federal Agency further announced. In November, 823,000 vacancies were reported, 15,000 more than a year ago. Seasonally adjusted, however, the stock decreased compared to October.
Underemployment, which, in addition to unemployment, also takes into account changes in labor market policy and short-term incapacity to work, increased by a seasonally adjusted month-on-month by 27,000 (+29,000). It affected 3.275 million people. That was 184,000 (120,000) more than a year ago. The BA explained the increase by saying that more and more Ukrainian refugees are taking part in integration courses.
Around 620,000 people from Ukraine are on basic security, including 200,000 children. By September, 59,000 Ukrainians had been employed subject to social security contributions, and another 18,000 in mini-jobs.
