Federal Employment Agency - Higher unemployment in December
The number of unemployed people in Baden-Württemberg rose in December. The state-wide unemployment rate rose from 3.9 percent to 4.0 percent, according to the regional directorate of the Federal Employment Agency in Stuttgart on Wednesday. 251,435 people were registered as unemployed in December. That was 2297 more than in November.
Compared to December 2022, the number of unemployed rose by 10.5 percent. At that time, 227,463 unemployed people were registered. The rate had been 3.6 percent. According to the employment agency, the cut-off date for the current figures was December 13.
According to the statement, most of the new unemployed came from the metal and electrical industry, temporary employment and the construction industry. However, there are still opportunities on the labor market. The number of people leaving unemployment and entering employment has risen significantly compared to the same month last year.
Crises have left their mark on the labor market
According to the employment agency, the past year was characterized by numerous crises, which have left their mark on the labor market. For unemployed people, especially the long-term unemployed, it is becoming more difficult overall to find employment. However, the labor market is still in a relatively good position compared to the weak economy.
"In view of the weakening economy and the various crises we had to overcome in 2023, we can still draw a positive balance for the labor market in the state," said Baden-Württemberg's Minister of Economic Affairs Nicole Hoffmeister-Kraut (CDU). Although unemployment had risen compared to the previous year, the labor market was stable under the prevailing circumstances.
"Many companies fear that they will have to reduce their workforce this year, as there are not enough positive prospects for sufficient orders in individual sectors," said Hoffmeister-Kraut. "In 2024, we must therefore focus on strengthening Baden-Württemberg as a business location."
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- Despite the increase in unemployment in December, the Federal Employment Agency in Stuttgart's labor market analysis indicated that opportunities still exist, with a significant increase in people leaving unemployment and entering employment compared to the same month the previous year.
- The unemployment rate in the Southwest region, specifically in Baden-Württemberg, saw an increase from 3.9% to 4.0% in December, with a larger impact felt in industries such as metal and electrical, temporary employment, and construction, according to the Federal Employment Agency's report.
- The unemployment rate in Baden-Württemberg's labor market had been steadily declining prior to December 2023, but faced a significant upward trend due to the numerous crises that have affected the federal employment system nationwide, causing challenges for long-term unemployed individuals in securing jobs.
Source: www.stern.de
