Germany's Economic Crisis Deepens: Unemployment on the Rise

Germany is facing a worsening economic crisis, with the job market showing significant signs of distress. In June alone, unemployment rose by 4,000, pushing the total to 2.73 million, an increase of 172,000 compared to June 2023. This has raised the unemployment rate to 5.8%.

Moreover, over 4 million people are now receiving 'citizen's income' (Bürgergeld), and another 3.5 million are underemployed. Many of these individuals are not counted in the official unemployment statistics due to being enrolled in training programs or other temporary activities.

Despite these alarming numbers, the government continues to focus on its ideological agenda of climate change initiatives and green economic reforms, neglecting the immediate economic challenges.

#Germany #Economy #Unemployment #EconomicCrisis #JobMarket #PolicyFailure

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Discussion

And the government promoting they need more skilled workers to replace aging workforce. Does it counterbalance the unemployment?