The harmonized unemployment rate in Germany inched down to a new record low of 2.8 percent in May of 2022 from a downwardly revised 2.9 percent in the previous month. The number of unemployed stood at 1.24 million, which was a slightly less than in April, amid weather conditions or strike. Meantime, the number of persons in employment was up by 0.1%. Employment has exceeded the pre-crisis level of February 2020 for the third month in a row. The total number of persons in employment has grown since the peak of the third COVID-19 wave in Germany, largely unaffected by the further waves and by the consequences of the war in Ukraine. source: Federal Statistical Office
Harmonised Unemployment Rate in Germany averaged 6.95 percent from 1991 until 2022, reaching an all time high of 11.20 percent in April of 2005 and a record low of 2.80 percent in May of 2022. This page includes a chart with historical data for Germany Harmonised Unemployment Rate. Germany Harmonised Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Harmonised Unemployment Rate in Germany is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Harmonised Unemployment Rate is projected to trend around 3.20 percent in 2023 and 3.00 percent in 2024, according to our econometric models.