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Germany — Unemployment down on previous month but up on previous year

30 October 2009

According to the latest statistics from the Federal Agency for Labour (BA), unemployment fell in October by -118,000 to 3.229 million people. The unemployment rate in October fell by -0.3 percentage points to 7.7%.

However, when compared to October 2008, unemployment is still up by 232,000 individuals due to the current economic recession. BA says that "reduced working hours have had a positive effect on the official unemployment figures."


BA President, Frank-J. Weise, says in an official statement "the impact of the economic recession was clearly visible in October 2009 but the downward trend in employment has calmed down. An upward trend, on the other hand, is not yet visible."

 

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