German labor market during the summer break stable – Reuters Germany

       

Nuremberg / Berlin (Reuters) – The labor market in Germany has proven largely stable even in the traditionally weaker summer months.

       

The number of unemployed rose, according to the Federal Employment Agency (BA) in July, although at 61,000 to 2.773 million. That is the lowest level since July 1991. The unemployment rate rose to 6.3 percent minimally. “With the onset of summer break, the number of unemployed people increased in July,” said BA chief Frank-Juergen Weise on Thursday in Nuremberg. Especially young people completed their training and were looking for a place. “Overall, the labor market is but as well.” Already in the next three months the number of unemployed will total back up to 120,000 fall because the firms would adjust to the end of the holiday new employees.

       

For 2015, the BA chief expects an average unemployment rate of 2.79 millions. That would be the lowest level since 1991. In June the number had slipped to its lowest level in nearly 24 years. Federal Labour Minister Andreas Nahles (SPD) spoke of a continued good climate in the labor market and also noted the rise in employment.

        
       

REFUGEES as potential for the labor market

       

If you exclude the seasonal variation of the number of unemployed increased in July, however, surprising to 9000 and therefore adjusted as strong as last 2014. In May banks Economists had expected a decline of 5,000. Warned Stefan Kipar by BayernLB against the rise overvalue. Because the situation on the job market remains intact. Recently it emerged that the back and forth the mood of firms have hardly clouded in debt dispute with Greece. “This suggests that in the coming months hardly skid marks can be expected in the labor market.”

       

Carsten Brzeski of ING Bank said, migrants and refugees could play an important role in the labor market. “From an economic perspective, immigration to the economy is a blessing, since it could cushion the negative consequences of aging populations.” Minister Nahles called employment is an important factor for the integration of refugees. “We have the opportunities that the labor market

       

offers, share with these people. “According to words of BA CEO Raimund Becker most refugees make only a German course of about six months before they participate in measures for further education or training. For doctors, engineers or other academics over the recognition of qualifications usually right from the beginning.

       

Employer-President Ingo Kramer pleaded because of the shortage of skilled workers for a simplified access of refugees to the labor market. Many asylum seekers would indeed hardly to stay opportunities, but would hand the job market, Kramer said.

       
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