Germany's unemployment rate is higher than expected
Kyiv • UNN
Germany's unemployment rate rose unexpectedly in May, when another 25,000 people became unemployed, almost 2.5 times more than predicted, despite the expected economic recovery.
In the past, the number of homeless people in the village became 25 thousand, the average was 2.5 times higher, it was even more noticeable. Pish UNN z posilannam on Bloomberg.
In May, the number of unemployed increased to 25 thousand, although previous forecasts were up to 7 thousand. The unemployment rate in Germany is kept at 5.9%.
Spring recovery hasn't really started this year
After the economic downturn that occurred at the end of 2023, Germany began to recover. This was supported by mild weather, which stimulated production, which grew by 0.2% in the first quarter.
Analysts believe that this growth will continue until the end of the year, as consumption recovers and the industry benefits from more sustainable demand. Although the labor market is stable, despite economic difficulties.
Companies are not ready to lay off skilled workers, so if the economy revives, they will probably have to load existing personnel more than hire new ones.
An early indicator from the German Institute for Employment Research fell last month, and researcher Enzo Weber said the strength of the labor market during an economically weak winter means that the potential for recovery is now limited.
Analysts expect consumer spending to be a key driver of economic growth. This is due to the fact that people's incomes are growing, catching up with inflation in recent years. Real wages hit record highs in the first quarter of the year and are likely to continue to grow in the coming months.
recall
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