Overview
- Registered unemployment fell by 44,000 from September to 2.911 million in October, yet remained 120,000 higher than a year earlier, putting the rate at 6.2%.
- Employers reported 623,000 vacancies, down by 66,000 year on year, and BA chief Andrea Nahles described the usual autumn upswing as lackluster.
- Destatis said 45.9 million people were employed in September, with seasonally adjusted employment down by 21,000 for a fifth consecutive monthly decline and the ILO jobless rate at 3.9%.
- Germany’s economy stagnated in the third quarter on a quarterly basis, reinforcing signs of subdued labor demand.
- The apprenticeship market tightened as agencies counted 494,000 training places and 444,000 applicants, leaving 54,000 positions unfilled and 40,000 youths still without a place, and the BA cautioned that seasonal effects could lift joblessness above three million in winter.