The Ukraine war does not improve prospects on the job market. At the moment, however, the statistics still show robust values. Unemployment falls again in May.
Unemployment in Germany has fallen further. In May, 2.260 million people were unemployed. That’s 50,000 fewer than in April and 428,000 fewer than a year ago, according to the Federal Employment Agency. The unemployment rate fell by 0.1 point to 4.9 percent. For its May statistics, the Federal Agency used data that had been received up to May 12th.
“Unemployment and underemployment fell again in May. Employment continues to rise and the demand for new workers remains at a very high level,” said Detlef Scheele, Chairman of the Federal Employment Agency. “However, the Russian war against Ukraine and supply shortages are weighing on the prospects,” he added.
On the other hand, trade and services benefited from the end of the corona-related restrictions. According to economists, there had recently been a significant economic boost, especially in body-related services such as hairdressers or pedicurists. From May 1st to 24th, companies nationwide announced short-time work for 77,000 people, the federal agency said. In most cases, however, less short-time work is used than initially indicated as a precaution. Current data on actual utilization is available up to March 2022. According to projections, short-time work benefits were paid to 553,000 employees that month.
The lack of skilled workers continues to become a problem on the labor market. The demand for new staff continued to be at a very high level in May, according to Nuremberg. In May, 865,000 jobs were registered with the BA, 211,000 more than a year ago. Seasonally adjusted, the number of jobs registered with the BA increased by 9,000.
