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Germany crosses the red line, over 3 million unemployed for the first time in a decade

2025-08-29 23:47:37Biznes SHKRUAR NGA REDAKSIA VOX
Germany crosses the red line, over 3 million unemployed for the first time in a
Unemployment in Germany

Unemployment in Germany has crossed the 3 million mark for the first time in a decade, fueling major concerns about the economy and increasing pressure on the government to deliver quick results from its massive investment plans.

According to data published by the Federal Employment Office this Friday, August 29, this month the number of unemployed reached 3.02 million, an increase of 46 thousand people compared to July.

"In Germany, three million is not just a number. It is a symbolic threshold that separates strength from weakness," said Carsten Brzeski, head of global macroeconomics at ING.

The crisis was further deepened by inflation, which rose above expectations in August, reaching 2.1% from 1.8% in July.

Europe's largest economy is facing a prolonged slump, weighed down by U.S. tariffs and the fallout from Russia's war in Ukraine. For the first time, Germany risks three consecutive years of no growth.

Even the Minister of Labor, Baerbel Bas, warned that the demand for labor is falling rapidly, with 631,000 job vacancies reported in August alone, 68,000 fewer than a year ago.

The German government has made a special fund of 500 billion euros available for infrastructure and economic recovery, but experts say the results will take years to be felt. Chancellor Friedrich Merz acknowledged that rising unemployment shows that reforms are necessary.

The crisis is also affecting consumption. Many families are saving more out of fear for the future, while retail sales fell by 1.5% in July, much more than analysts' expectations of a decline of just 0.4%.


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