Economy Unemployment in Germany rises faster than usual

No good news from the German labor market - the number of unemployed is rising faster than usual at this time of year.

The number of unemployed people in Germany rose more sharply in July than usual at this time of year. According to the Federal Employment Agency, the number of people without a job rose by 82,000 compared to the previous month to 2.809 million.

The rate was 6.0 percent, 0.2 points higher than in June.

According to the Federal Agency's monthly report, the momentum of the German economy has flattened out again. "The weak economic development is weighing on the labor market. At the beginning of the summer break, unemployment and underemployment rose more sharply than usual," said Daniel Terzenbach, member of the Executive Board, according to the report.

Compared to the same month last year, the number of unemployed even rose by 192,000 people.

At the same time, the number of job vacancies registered with the Federal Employment Agency also fell. 703,000 vacancies were registered, 69,000 fewer than a year ago.

Training market still on the move The Federal Agency still sees movement in the training market. In July, 121,000 registered applicants had not yet found a training place or an alternative training opportunity. In contrast, there are 204,000 registered vacant training places at companies. The figures are likely to fall over the summer months.

According to the latest data from the Federal Employment Agency, 58,000 people were registered for short-time work from July 1 to 25 - a good third more than in the previous month. It is unclear whether the short-time work will actually be utilized. With the notification, companies only report the expected loss of work.