Germany, unemployment rises above expectations - The labor market does not provide the necessary incentives for recovery
Unemployment in Germany rose more than expected in September, the labor office said, as the labor market struggled to recover. In seasonally adjusted terms, the number of unemployed rose by 14,000 to 2.98 million. The unemployment rate, also seasonally adjusted, remained stable at 6.3%, in line with analysts' forecasts.
The number of unemployed people topped 3 million last month for the first time in a decade, but fell back to 2.95 million in September, down about 70,000. Companies' demand for new workers also weakened, with 630,000 job vacancies reported in September, 66,000 fewer than a year earlier, according to the labor office.
"Labor market demand continues to lack the necessary incentives for a stronger recovery," sources from the labor office announced.
Germany, Europe's largest economy, is facing a third straight year of economic contraction for the first time in its history, something made more likely by tariffs imposed by US President Donald Trump. The economy shrank by 0.3% in the second quarter compared with the first three months of the year, pointing to continued weakness in the labor market.
Chancellor Friedrich Merz has promised to pull Germany out of this crisis with a strong increase in spending on infrastructure and defense, but these measures are taking longer than expected to be reflected on the ground.
"If infrastructure programs and increased defense spending take effect next year, the manufacturing sector will be the main beneficiary and rapid job losses will slow," the economists point out.
Germany's leading economic institutes last week slightly expanded their forecast for economic growth this year to 0.2%, from 0.1% previously, while for 2026 the value remained unchanged at 1.3%.
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