Business cycle – unemployment remains low – economy
Extensive stagnation on the German labor market: The number of unemployed fell in November thanks to a very slight autumn pick-up, although less sharply than in previous years at this time of year. The Federal Employment Agency on Wednesday put the number of unemployed in November at 2.434 million, which is 8,000 fewer than in October but 117,000 more than a year ago. The unemployment rate is thus unchanged at 5.3 percent and thus 0.2 points higher than in November 2021. The Federal Agency used data for the November statistics that was available up to November 14th.
“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 Employment Agency in Nuremberg.