Unemployment falls in October

Fewer unemployed people, fewer short-time workers – the labor market picked up in October. But what are the effects of the new restrictions?

The number of unemployed is falling

Dhe number of unemployed in Germany declined again in October, despite the rising number of corona infections, mainly due to seasonal factors. According to the Federal Employment Agency on Thursday, 2.760 million people were unemployed in October, 87,000 fewer than in September, but 556,000 more than in October 2019. The unemployment rate fell by 0.2 percentage points to 6.0 percent compared to September.

“Unemployment and underemployment fell sharply in October,” said the chief executive of the Federal Agency, Detlef Scheele. “As before, however, there are clear traces of the first wave of the corona pandemic on the job market,” he emphasized.

However, the October statistics do not yet show the possible effects of the rapidly increasing number of corona infections since mid-October. The cut-off date for the data collection by the Federal Agency is around the middle of the month, the sharp increase in the number of infections mostly only started afterwards.

The number of short-time workers in Germany continued to decline in the summer. According to the Federal Agency, companies registered short-time work for 2.58 million people in August. At the height of the first corona wave in April, the number was just under six million people. The Federal Agency announced that the use of this has gradually decreased since then. From October 1 to 25, short-time work was reported again for 96,000 people. Experience has shown that the actual number of short-time workers is usually smaller than the number of advertisements.