The unemployment rate in Germany stood at 6.0% in March, 0.1 percentage points higher compared to the month prior, according to the Federal Employment Agency's (BA) report released on Thursday.
The number of unemployed German residents decreased by 45,000 from the previous month and was up by 176,000 from the same month in 2023 to reach 2.8 million in March 2024. On a seasonally adjusted basis, unemployment was up by 4,000 month on month.
Underemployment, which accounts for both unemployment and those affected by labor market policies or short-term inability to work, saw a seasonally adjusted rise of 10,000 from the previous month, totaling 3,606,000 in March 2024. This represents an increase of 143,000 compared to the same period last year.
