- Young people are often given financial support
Many young adults aged 18 to 24 receive financial support from family or the state. In the past year, over a third (35 percent) lived on money from parents or other relatives, as reported by the Federal Statistical Office**.
Conversely, more than half (51 percent) of young people earned their money mainly through their own work. 13 percent were primarily dependent on public benefits, such as BAföG, scholarships, or unemployment benefits. Only one percent of young people relied on their own assets for sustenance.
Youth unemployment decreases
The share of 15- to 24-year-olds neither in education nor employment was 7.5 percent in 2023, similar to the first two COVID years of 2020 (7.4 percent) and 2021 (7.8 percent), according to the Federal Office. Before the pandemic, this share reached a 10-year low of 5.7 percent in 2019.
The unemployment rate among young people alone has decreased in the past three years and was 5.9 percent in 2023, the lowest since 2019 (5.8 percent). Over the past 20 years, youth unemployment in Germany has almost halved (2003: 11.0 percent).
Lowest youth unemployment in Germany
As in previous years, Germany had the lowest youth unemployment rate in the European Union in 2023. On average, the unemployment rate among 15- to 24-year-olds in the 27 EU member states was more than twice as high, at 14.5 percent. Spain (28.7 percent) and Greece (26.7 percent) had the highest youth unemployment rates.
In light of these statistics, it's crucial to invest in [education and training] to ensure a more sustainable future for the younger generation. Furthermore, providing sufficient funding for [education and training] programs could potentially reduce the reliance on unemployment benefits among young people.
