Germany's Job Market: Resilience Amid Economic Uncertainty

The number of unemployed in Germany rose less than expected in November, increasing by 7,000 to 2.86 million in seasonally adjusted terms. The job rate held at 6.1%, but job openings fell, reflecting a slowdown in demand. Economic uncertainty is affecting companies' personnel planning.

The number of people out of work in Germany increased by 7,000 in November, according to the federal labour office, rising to a total of 2.86 million in seasonally adjusted terms. This figure was below analysts' expectations, who anticipated a rise of 20,000.

Despite the economic pressures, the seasonally adjusted job rate remained stable at 6.1%. Andrea Nahles, head of the labour office, commented on the continued economic weakness affecting the labour market.

Job openings saw a significant reduction, with 668,000 positions available in November, down by 65,000 from the previous year. The Ifo Institute noted that companies are increasingly cautious, and manufacturing firms, in particular, are planning job cuts to tackle the crisis.

(With inputs from agencies.)