Number of employed people in Germany reaches 45.9 million

According to provisional data released by the Federal Statistical Office of Germany, the number of employed people in 2023 increased by 333 thousand (0.7 percent) compared to the previous year. Total employment reached 45.9 million. This marks the highest level of employment since the reunification of East and West Germany in 1990.

Employment has been growing for 3 years following the decline experienced in 2020 due to the COVID-19 pandemic.

The statement noted, "One reason for the increase in employment in 2023 was the migration of foreign workers. In addition, there was an increase in the labor force participation of the domestic population. These two growth drivers offset the dampening effects on the labor market caused by demographic change, which is likely to lead to a significant decline in the working-age population in the medium term."

Largest contribution to employment came from the service sector

Looking at unadjusted data, unemployment in the country fell from 2.9 percent to 2.8 percent last year.

The largest contribution to employment came from the service sector with a 1 percent increase (295 thousand).

The number of unemployed people decreased by 9 thousand last year, falling below 1.3 million. The number of people available for employment also increased by 317 thousand last year, rising to 47.1 million.

Experts state that the low unemployment rate in Germany is noteworthy, and that the integration of vocational, theoretical, and practical training has had a significant impact on this situation.

Stating that the content of education in the country is offered in a demand-oriented and flexible manner, experts point out that this allows companies to acquire well-trained employees in line with their own needs, and enables young people to possess the skills required by firms.

News Source: 12punto