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Unemployment in Germany increased slightly in July, as during the summer holidays. The Federal Agency for Employment (BA) registered about 2.325 million unemployed. That was 49,000 more than in June, but about 193,000 less than a year ago, the authority said Tuesday in Nuremberg.
This is the lowest unemployment rate in July since reunification in 1990. The unemployment rate edged up 0.1 percentage point to 5.1%. The only reason for the increase was the usual summer vacation, said BA boss Detlef Scheele. "The development of the labor market is very favorable, but less buoyant."
Unemployment generally increases in July because many young people are temporarily out of work after school or after completing their education. In addition, departures often occur at the end of the quarter, as companies wait for hiring to end the holiday season.
Taking into account these seasonal influences, according to BA calculations, unemployment dropped by about 6,000 from June to July
The German labor market continues to benefit from the good economy and the economy. 39, a robust domestic economy, according to economists. However, the outlook for many companies has become slightly bleaker due to the international trade conflict.
The official number of unemployed does not reflect the actual size of unemployment. For example, if you count the unemployed in the measures of employment or the incapacitated patients, in July, there are many more unemployed people, that is to say 3,258,000 people. Overall, underemployment decreased by 12,000 in July.
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