The German labor market was comparatively stable in February. On a monthly basis, the number of registered unemployed rose slightly. A large part of this relates to the refugees from the Ukraine recorded by the Nuremberg authorities.
The number of unemployed in Germany rose in February. The Federal Employment Agency (BA) recorded an increase of 4,000 to 2.62 million from January to February, as the authority in Nuremberg announced. "Overall, the labor market was stable despite the tense economic situation," said BA boss Andrea Nahles. The unemployment rate remained unchanged at 5.7 percent. The number of unemployed was around 192,000 higher than in February last year.
According to the BA, the increase is mainly due to the fact that unemployed refugees from Ukraine are settled at the job centers. Adjusted for seasonal fluctuations, according to the BA, the number of unemployed increased by 2000 to 2.509 million.
Short-time work has recently increased again as a result of the economic strain in Germany. The latest data on how many employees claimed short-time work benefits is available up to December 2022: According to extrapolated data from the Federal Agency, 183,000 people received short-time work benefits this month. From February 1st to 23rd, companies announced short-time work for 61,000 employees. Experience has shown that the number of people who actually go on short-time work is lower.
According to the Federal Agency, the demand for workers has declined in Germany since early last summer. Nevertheless, the need for personnel is still at a high level, it said. In February, 778,000 job vacancies were reported, 44,000 fewer than a year ago.
