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Germany’s unemployment rate holds steady at 6.2pc in June

BERLIN, July 1 (Xinhua) — Germany’s unemployment rate remained unchanged at 6.2 percent in June, the Federal Employment Agency reported Tuesday.

A total of 2.914 million people were registered as unemployed during the month, a decrease of 5,000 compared to May.

Despite the slight month-on-month improvement, officials cautioned that the labor market continues to suffer from the effects of a sluggish economy. Compared to the same month last year, the number of unemployed rose by 188,000 in June, with the unemployment rate up by 0.4 percentage points.

“The labor market continues to show signs of economic weakness,” said Andrea Nahles, chairwoman of the Federal Employment Agency. She noted that while unemployment trends remain unfavorable, companies are still reluctant to expand their workforce.

The number of job vacancies declined to 632,000 in June, a year-on-year drop of 69,000, highlighting reduced labor demand.

Among those still employed, German firms also filed for short-time work affecting 35,000 individuals between June 1 and 25, citing continued economic headwinds, the agency added.

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