Stable Unemployment Rate in Germany

In February, Germany's unemployment rate remained unchanged at 6.4%, as reported by the Federal Employment Agency (Bundesagentur fuer Arbeit). This stability comes amidst a slight increase in the total number of unemployed individuals, which rose by 5,000 to 2,989,000. This figure, however, was lower than what analysts had predicted.

Year-on-Year Unemployment Growth

Compared to the same month last year, unemployment in Germany has seen a significant rise, with an additional 175,000 people out of work. This year-on-year comparison highlights the ongoing challenges in the German labor market.

Underemployment Figures

Underemployment, which includes both unemployment and short-term incapacity to work, was recorded at 3,731,000, representing 7.9% of the workforce. This marks an increase of 2,000 from the previous month and a notable rise of 94,000 compared to February 2024.