Germany’s economic weakness is affecting the labour market: the number of unemployed Germans this year will rise to the highest level in almost a decade, Reuters reports, citing a study by the German Economic Institute (IW).
According to the German Economic Institute, the number of unemployed people in Germany will rise to 2.8 million in 2024, the highest figure since 2015.
IW expert Holger Schäfer said that last year the situation on the German labour market was quite stable despite the recession. But in 2024, the effects of the crisis are hitting employment figures harder and harder. In March, the number of new job openings fell to the lowest level in five years.
The German unemployment rate is forecast to rise to 6 per cent in 2024. Other leading German economic institutions believe that the indicator will be 5.8%, and in 2025 the value will reach the level of 5.5%, according to the publication Reuters.
Earlier, German Ambassador to Moscow Alexander Lambsdorf said in an interview with RND that Germany would have to co-operate with Russia despite the countries’ very different positions on fundamental issues.