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German labour market remains robust despite slowing economy

According to the BA, the increase was solely attributable to the development in the sector of unemployment insurance as a result of the economic slowdown.

The leader of BA, Detlef Scheele, noted that the phase of economic weakness was also having a slight impact on the labour market, adding that the situation of the German labour market would remain robust altogether.

“In a year-on-year increase, the number of unemployed people in Germany decreased by 31,000 in August, marking a decline in the overall unemployment rate of 0.1 per cent to 5.1 per cent,’’ Scheele said.

According to German Federal Statistical Office (Destatis), the number of people in employment grew by 14,000, compared to July and stood at around 45.3 million people.

“Employment growth continues, but loses momentum and corporate demand for new employees declines again at a higher level,’’ Scheele said.

“Around 795,000 vacant jobs were registered at the Germany employment agency in August, which were 33,000 less than in 2018.

“The German employment agency’s index for labour demand in Germany showed a continued high willingness of companies to recruit in spite a year-on-year decline of 10 points to 242 points in total in August,’’ BA said.

 

 

 

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