German Unemployment Rises in August: Economic Stagnation Weighs on Labor Market

Germany’s unemployment rate climbed by 0.1% in August, reaching 6.1%, according to the Federal Employment Agency. This marks an increase of 63,000 unemployed individuals compared to July, bringing the total number of unemployed to 2.87 million. The agency attributed the rise to the ongoing economic slowdown, with both unemployment and underemployment continuing to rise even during the summer months. The demand for workers in German companies has also been decreasing. The number of job openings listed with the employment agency fell by 72,000 compared to last year, reaching 699,000 in August.