What is the unemployment rate in Germany? (2024)

What is the unemployment rate in Germany?

Unemployment Rate in Germany increased to 5.90 percent in November from 5.80 percent in October of 2023. Unemployment Rate in Germany is expected to be 5.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

Why is Germany's unemployment rate so high?

This is a result of the damage the economy suffered during the COVID-19 pandemic. During the lockdown, most businesses were closed, and many companies lost revenue meaning employees were let go. It is also possible that higher unemployment figures will continue into 2023 because of inflation and rising energy prices.

Which country in Europe has the highest unemployment rate?

Unemployment rates in EU

Data ranges from 2.5 to 12. End of interactive chart. The youth unemployment rate was 14.8% in the EU . The lowest rates were observed in Germany with 5.6%, Malta with 7.0% and Czechia with 7.1%, while the highest were recorded in Spain (28.0%), Italy (24.7%) and Sweden (22.1%).

What country has lowest unemployment rate?

Unemployment typically measures individuals in the labor force, meaning those who are not working but are actively seeking work. The countries with the lowest unemployment rates are Qatar, Cambodia, and Niger.

Which country has highest unemployment?

In 2021, South Africa had the highest unemployment rate in the world, at 29.8 percent. Of the 10 countries with the highest unemployment rates, eight were in Sub-Saharan Africa.

What is the poverty rate in Germany?

Just over 17.3 million people in Germany were affected by poverty or social exclusion in 2022. This equated to 20.9% of the population, the Federal Statistical Office (Destatis) reports on the basis of first results of the survey on income and living conditions (EU-SILC).

Is Germany in a recession?

While Germany is barely coming out of a recession recorded in Q4 2022 and Q1 2023, economic surveys emphasise the risk that the country will fall back into recession in H2.

Who has the lowest unemployment in Europe?

The latest data marks the Czech Republic as a leader among European countries in terms of employment. The European Commission conducted an analysis and noted that the Czech Republic currently has the lowest unemployment rate among all EU countries.

What is the unemployment rate in Russia?

Unemployment in Russia

The unemployment rate in Russia averaged 5.1% in the decade up to 2022, below the Eastern Europe average of 7.4%. The unemployment rate in Russia was 3.9% in 2022. For more unemployment information, visit our dedicated page.

What is the unemployment rate in Canada?

Basic Info. Canada Unemployment Rate is at 5.80%, compared to 5.70% last month and 5.10% last year. This is lower than the long term average of 8.06%.

Where does America rank in unemployment rate?

International comparison of unemployment rates. The sad listing in the worldwide fight against unemployment is headed by Marshall Islands, Kiribati and Kosovo. The United States ranks 40th in our comparison of 64 countries.

What is China's unemployment rate?

Monthly surveyed urban unemployment rate in China October 2021-2023. In October 2023, the surveyed unemployment rate in urban areas of China ranged at 5.0 percent, remaining flat from the previous month. The quarterly unemployment rate in China stood at 5.2 percent in the second quarter of 2023.

Why is Japan's unemployment rate so low?

About 20 to 25% of the total difference in unemployment rates is due to differences in the behavior of teenagers in the two countries. Fewer and fewer Japanese teenagers are participating in the labor market, due to strict schooling requirements, and lower minimum wages.

Which state has the best unemployment?

The latest report showed the state with the lowest unemployment was Maryland, with a jobless rate of 1.6%. North Dakota was also among the states with the strongest job market, according to the latest data, with an unemployment rate of just 1.9%.

Who has the highest unemployment rate in the USA?

U.S. unemployment rates for large metropolitan areas 2023

In the same period, the unemployment rate was highest in the Las Vegas-Henderson-Paradise, Nevada metropolitan area, and stood at 5.4.

Where does Germany rank in unemployment rate?

Which is the poorest city in Germany?

The poorest city in Germany is Gelsenkirchen (North Rhine-Westphalia). The people who live there earn approximately 18,106$ per year (16,203€) which is extremely low for german standards considering the fact that the average yearly earning in Germany is 45.250€ (50,565$).

Which part of Germany is the poorest?

What percent of Germany is wealthy?

They combine tax and archival data, household surveys, historical national accounts, and rich lists to analyze the evolution of the German wealth distribution over the long run. They show that the top 1% wealth share has fallen by half, from close to 50% in 1895 to 27% today.

Why is the German economy so weak?

While Germany has benefited from its strong industrial base for decades, high energy prices and the need to decarbonise the economy are much harder to absorb than in countries with a strong services sector. In that arena, Germany (like its European peers) suffers from a lack of digital platforms.

How good is the German economy?

Germany is the fourth largest economy in the world after the United States, China and Japan and the largest economy in Europe. It is the third largest export nation in the world. At 70%, the service sector accounts for the largest share of the country's gross domestic product.

Why is the German economy struggling?

Germany has deeper problems too: an ageing population and an industrial model showing its age. Evidence that Germany might just be an analogue economy struggling to make the transition to a digital age comes from the latest manufacturing data.

What is the safest country in Europe?

As determined by the Global Peace Index, Iceland ranked as the safest country in Europe. Iceland, Denmark, and Ireland ranked as the three safest countries in the world. In contrast, the index ranked Afghanistan as the world's most dangerous country, with Yemen and Syria second and third from bottom.

Why is unemployment so low in Germany?

The labour market has been an important driver of the economy's resilience over the last few years, said Carsten Brzeski, global head of macro at ING. "A combination of fiscal stimulus, furlough schemes and demographic change seems to have made the German labour market almost invincible," Brzeski said.

Why is US unemployment higher than Europe?

The evidence, such as it is, suggests the following: social protection is high in Europe. Unemployment insurance is more generous than in the United States, both in terms of the replacement rate and of the length for which benefits are given.