The German economy is facing a recession in jobs!
The labor market in Germany is experiencing a clear slowdown, with almost no new jobs being created. According to data from the "Statistisches Bundesamt", the number of employees in the second quarter of this year increased by only about 10,000 people compared to the same period last year.
This increase is very small and is considered the weakest since the significant recovery that occurred after the COVID-19 pandemic in the summer of 2022, when 679,000 new people were employed.
The industrial sectors and the construction sector have seen a decline in job numbers again, but this decline has been partially offset by an increase in employment in the services sector, which is still experiencing some growth despite the overall recession in the German economy.
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