Overview

• The Federal Employment Agency reported 3.025 million people unemployed in August, up 46,000 on the month and the highest since February 2015, lifting the jobless rate to 6.4%.
• Seasonally adjusted, unemployment fell by 9,000 in August versus July, while job vacancies slipped to 631,000, down 68,000 from a year earlier.
• Agency chief Andrea Nahles said manufacturers are weakening and pointed to the need for signs of life in the economy, with headwinds cited from high energy costs, Chinese competition and new U.S. tariffs.
• An EY report estimated more than 110,000 industrial jobs lost over the past year, including about 50,000 in the auto sector.
• Industry and officials called for action, with VDMA’s Thilo Brodtmann urging lower costs and looser rules and Labour Minister Bärbel Bas emphasizing government backing and planned investment.