Germany's June Unemployment Rate Stays Constant at 6.2 Percent
(MENAFN) Germany’s unemployment rate stayed constant at 6.2 percent in June, according to data released by the Federal Employment Agency on Tuesday.
In total, 2.914 million people were unemployed in June, marking a slight decrease of 5,000 from May.
While the month-to-month improvement appears marginal, officials warned that the labor market remains pressured by ongoing economic sluggishness. Year-on-year, the number of unemployed individuals surged by 188,000 in June, and the unemployment rate climbed by 0.4 percentage points.
"The labor market continues to show signs of economic weakness," said Andrea Nahles, chairwoman of the Federal Employment Agency. She pointed out that despite the unfavorable trends in unemployment, businesses remain hesitant to expand their workforces.
Job vacancies also saw a decline, dropping to 632,000 in June, a year-over-year decrease of 69,000, signaling weaker demand for labor.
In addition to the growing unemployment figures, German businesses filed for short-time work for 35,000 employees between June 1 and June 25, citing persistent economic challenges, the agency noted.
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