German labour market: Federal Employment Agency to release October figures
Just under 2.99 million people were unemployed in September. Experts expect a seasonal but moderate decline in October. The BA-X job index edges lower.
Archive image · Photo: Zepraba / Wikimedia Commons, CC BY-SA 4.0 (cropped and resized)
Germany's Federal Employment Agency (BA) publishes its October labour market figures on Friday. In September, 2.994 million people were registered as unemployed, just below the 3 million mark, for a rate of 6.4%. That was 40,000 more than a year earlier; on a seasonally adjusted basis, the number rose by 12,000 from August. Underemployment covered 3.615 million people.
Unemployment usually falls in October because of a seasonal autumn pickup. Labour market experts expect a seasonal but moderate decline again this year, and forecasts have become somewhat more optimistic; no October figures are available before the release. BA head Andrea Nahles also plans to take a closer look at the apprenticeship market. Some training places remain unfilled and some applicants unplaced because their location or qualifications do not match.
The BA-X index, which measures demand for labour, fell by one point to 102 in October but was four points above its year-earlier level. Demand for workers remains weak overall, but more sectors are showing slight year-on-year gains, the agency said. In September, 660,000 job vacancies were registered with the BA, 30,000 more than a year earlier.