Germany’s Unemployment Rate Dropped Slightly in May Amid Ongoing Labor Market Struggles

Germany’s unemployment rate fell to 6.2% in May, down 0.1 percentage points from April.

The number of unemployed dropped by 12,000 to 2.919 million but remained 197,000 higher than a year earlier.

Germany continues to face a skilled labor shortage, with employment bottlenecks in one in eight professions.

Employers report 634,000 job vacancies in May, a decline of 67,000 from the previous year, reflecting a cooling labor market.

Famagusta Gazette