The number of unemployed rises by 162,000 in January and now stands at 2.616 million. BA boss Andrea Nahles sees no reason to worry - but the effects of inflation, sanctions and the energy crisis are making themselves felt.
The number of unemployed rose in Germany in January. In the first month of the year, 2.616 million people were unemployed, 162,000 more than in December and 154,000 more than in January 2022. This was announced by the Federal Employment Agency (BA) in Nuremberg. The unemployment rate climbed 0.3 points to 5.7 percent.
The increase is "usual for the season," said the BA. "The labor market remained stable at the beginning of the year. However, the effects of the geopolitical and economic uncertainties are still evident," said the Federal Agency's CEO, Andrea Nahles.
Seasonally adjusted, the number of unemployed fell by 22,000 in January compared to the previous month. In December, the number had decreased by 13,000. The seasonally adjusted unemployment rate remained as expected at 5.5 percent. Economists polled by Dow Jones Newswires had forecast unemployment to rise by 5,000.
At the beginning of the year, the demand for workers had dropped slightly, the BA said. Overall, however, the need for personnel is stable at a comparatively high level. 764,000 jobs were registered with the Federal Agency, 27,000 fewer than a year ago. Seasonally adjusted, the number of jobs reported to the agency increased by 2000 compared to the previous month, it said. The cut-off date for the labor market data collected was January 12th.
