German job market sees weakest December performance since 2010

German Unemployment Reaches Highest December Level Since 2010

The number of unemployed individuals in Germany rose by 22,900, pushing the total to 2.908 million—marking the highest December figure recorded since 2010. Newly published statistics reveal that, after seasonal adjustments, unemployment grew by 3,000, while the unemployment rate remained steady at 6.3%.

Over the past four years, approximately half a million more people have joined the ranks of the unemployed in Germany. This steady decline in the labor market aligns with economic expectations: with the German economy having stagnated for over five years and industries grappling with significant structural issues, a downturn in employment was unavoidable. The outlook suggests further challenges ahead before any improvement is likely.