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The job market in March 2018

Further reductions in Unemployment and Underemployment
29 Mar 2018 | Press Release No. 10

“The positive development in the job market is continuing in March: unemployment and underemployment have fallen again, insurable employment is continuing to rise, and the demand for workers is still at a very high level”, said the Chair of the Federal Agency for Employment (BA), Detlef Scheele, today at the monthly press conference in Nürnberg.

Number of unemployed in March:
-88.000 to 2.458.000

Number of unemployed in previous year comparison:
-204.000

The ratio of unemployed compared with previous month:
-0.2 percentage points to 5.5 percent

Unemployment and Underemployment

Unemployment has reduced from February to March by 88,000 to 2,458,000. This reduction is stronger than usual for that time of the year. When seasonal influences are factored out, a reduction in March of 19,000 is thus calculated in comparison with the previous month. Compared with the previous year, 204,000 fewer people were registered as unemployed.

The seasonally adjusted underemployment figures, which also considers people in employment market relieving political actions and who are in the short term unfit for work, has sunk by 22,000 compared with the previous month. In total, the number of underemployed people in March was 3,441,000. This is 232,000 less than a year ago.

The unemployment determined by the Federal Office for Statistics according to the ILO employment concept in February was 1.63 million and the ratio of unemployed was 3.8 percent.

Work and Socially Insurable Employment

Numbers in work and socially insurable employment have risen further. According to the Federal Office of Statistics, the seasonally adjusted number of people in employment (by the domestic concept) in February increased by 45,000 compared with the previous month. At 44.32 million persons, it was 618,000 higher than the previous year. The growth is only due to the growth in socially insurable employment. This increased by 89,000, seasonally adjusted, according to the projections of the Federal Agency for Employment from December to January. In total, 32,47 million people were in socially insurable employment in January according to projected data. That is 762,000 more than a year previously.

Demand for Workers

The demand for new employees is still high. 778,000 jobs were notified to the FAE in March, 86,000 more than a year ago. Seasonally adjusted, the demand has increased by 1,000 compared with the previous month. The FAE job index (BA-X) – an indicator of the demand for workers in Germany–has dropped slightly by one point and is now at 251 points. The previous year’s value has been exceeded by 22 points.

Money Payments

In total, 768,000 persons were in receipt of unemployment benefit in March, 49,000 fewer than a year ago. The number of people capable of work and eligible for payments from the job seeker’s basic insurance (SGB II) was 4,260,000 in March. In comparison with March 2017, this is a reduction of 168,000 persons. 7.8 percent of people of employable age living in Germany were thus requiring assistance.

Training Market

From October 2017 until March 2018, 401,000 people applied for training places with the employment agencies and Job centres. That was 10,000 fewer than in the previous year. At the same time, 456,000 training places were registered, 15,000 more than a year ago. The most frequently registered to data were places for trainee business people in individual trade, sales assistants, business personnel for office management, industrial business people and specialists in storage logistics. Since experience shows that there will be movement in the next few months in both training places and applicants, well-founded estimations are not yet possible.