Unemployment in Germany

Germany Unemployment | Economic News & Forecasts

Germany - Unemployment

Detailed national accounts data showed that the economy contracted at a slightly softer pace than initially estimated in Q2. Nonetheless, Covid-19 and associated containment measures weighed heavily on domestic and foreign demand: Exports and household consumption fell particularly sharply compared to Q1. Covid-19 has also dealt a blow to public finances, with data showing that the government ran a marked fiscal deficit in H1—the first H1 shortfall since 2011—as revenues dropped and expenses rose amid the vast stimulus package. Turning to Q3, activity seems to be recovering and the economy should exit recession. Business and consumer confidence turned less sour in July–August, while operating conditions in the private sector improved notably in the same period. The extension of Covid-19 relief measures in late August, such as the short-time work scheme, should further stimulate activity.

Germany - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate6.4  6.1  5.7  5.2  5.0  

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Germany Unemployment Chart

Germany Unemployment
Note: Unemployment in % of active population.
Source: Federal Labour Agency.

Germany Facts

Value Change Date
Bond Yield-0.190.41 %Jan 01
Exchange Rate1.120.65 %Dec 31

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