German unemployment rises more than expected in May

4th Jun 2024 10:26

(Sharecast News) - The number of Germans lining up for unemployment benefits rose more than expected in May, according to the Federal Labour Office, growing by 25,000 in seasonally adjusted terms, ahead of estimates for a rise of 10,000.

Germany saw 702,000 job openings in May, down from 767,000 at the same time a year ago, while the seasonally adjusted jobless rate was flat at 5.9%.

"The spring recovery did not really get going this year," said labour office head Andrea Nahles. "Improvement is still a long time coming."

The shortage situation eased somewhat for skilled labour in structural engineering and facade construction, as well as engineers in aerospace technology, as the shortage across sectors fell to 183 affected occupations from 200.

However, Nahles stated this was not indicative of a long-term trend.

"Due to demographic developments, many well-qualified and experienced skilled workers will continue to leave the labour market in the coming years," said Nahles.

Reporting by Iain Gilbert at Sharecast.com