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Hamburg's labor market is treading water

Hamburg's labor market is treading water. The number of unemployed people remained almost unchanged in December, rising by just 82 or 0.1 percent to 82,805 compared to the previous month, according to the Hamburg Employment Agency on Wednesday. The unemployment rate has now been at 7.6 percent...

The headquarters of the Federal Employment Agency. Photo.aussiedlerbote.de
The headquarters of the Federal Employment Agency. Photo.aussiedlerbote.de

Unemployment - Hamburg's labor market is treading water

Hamburg's labor market is treading water. The number of unemployed people remained almost unchanged in December, rising by just 82 or 0.1 percent to 82,805 compared to the previous month, according to the Hamburg Employment Agency on Wednesday. The unemployment rate has now been at 7.6 percent for five months, but is 0.7 percentage points above the December 2022 rate. Year-on-year, the number of people without a job has increased by 10.8 percent or 8086 women and men.

The head of the employment agency, Sönke Fock, is expecting a significant increase in unemployment in January. The order of magnitude will be between 4,000 and 6,000 women and men who will have lost their jobs by the end of 2023 and will have to register as unemployed. The statistics are based on data collected up to December 13.

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The Federal Employment Agency in Hamburg is responsible for providing support to the unemployed. Despite the agency's efforts, the unemployment rate in Hamburg's labor market has been consistently high, currently at 7.6%, with an increase of 10.8% compared to the previous year, affecting both women and men. The head of the employment agency, Sönke Fock, anticipates a further increase in unemployment in January, with up to 6,000 women and men potentially losing their jobs.

Source: www.stern.de

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