February 1, 2023
1 min read

German unemployment rate climbs to 5.7% in Jan

In mid-2022, the country’s economy lacked more than half a million skilled workers on an annual average, according to the German Economic Institute (IW)…reports Asian Lite News

Germany’s labour market continues to show little signs of weakening amid the energy crisis. As is typical for this time of the year, the country’s unemployment rate climbed slightly to 5.7 per cent in January, the Federal Employment Agency (BA) said.

The number of jobless people in Europe’s largest economy rose by 162,000 month-on-month to just under 2.62 million in January. The figure was 154,000 higher than a year ago, according to the BA on Tuesday. The labour market remained “stable,” BA chief Andrea Nahles said in a statement.

“However, the effects of geopolitical and economic uncertainties continue to be evident.” Last year, Germany’s total workforce grew to a new record high of 45.6 million employees.

According to the Federal Statistical Office (Destatis), the immigration of foreign workers and the increased participation of domestic population “more than offset” demographic change on the country’s labour market.

Despite this development, labour shortage in Germany has been increasing for years.

In mid-2022, the country’s economy lacked more than half a million skilled workers on an annual average, according to the German Economic Institute (IW). Particularly in sales, daycare centres, social work and hospitals, the shortage is to increase even further.

To attract more workers from abroad, the German government decided to lower income thresholds for the Blue Card required for foreign nationals to work in the country.

Asylum procedures have also been accelerated and a so-called opportunity card for people with high potential is to be introduced.

ALSO READ-Germany to send Leopard 2 tanks to Ukraine

Previous Story

Manmohan Singh conferred Lifetime Achievement Honour  

Next Story

Teachers prepare to strike in England

Latest from -Top News

Dhaka’s Ruling Party Rejects Kolkata Link

Slamming the Yunus administration, the Awami League alleged that “the illegal usurper government is actively spreading these baseless rumours….reports Asian Lite News Bangladesh’s Awami League has rejected media reports that it opened

1.5M Afghans Forced Back in 2025

UN warned that these women and girls face significant threats upon their return to Afghanistan, including poverty, early marriage, violence, and unprecedented restrictions. The International Organization for Migration (IOM) has warned that

How BRICS Break the West’s Grip

Harvansh Chawla pointed to the Ruble-Rupee trade arrangement between the two nations, saying it has streamlined transactions and lessened reliance on Western financial systems. The BRICS bloc is proving crucial in enabling

Greece may extend North Africa asylum ban

In July, the government stopped processing asylum requests from migrants arriving from North Africa by sea for three months in an effort to curb arrivals from Libya to Crete Plevris said he

EU Demands Seat in US–Russia Ceasefire Talks

Kallas revealed that she would convene an online meeting of EU foreign ministers on Monday to discuss “our next steps EU foreign policy chief Kaja Kallas said any US–Russia agreement must involve
Go toTop

Don't Miss

European Central Bank retains rates amid inflation

The ECB is going to keep a close eye on

U.S. Turns Up Heat on Ukraine Mineral Deal

The proposed agreement, which reportedly demands a 50-per cent share