Financial News: German Unemployment Remains Stable

German Unemployment Remains Stable

03/31/2026 - 09:37:00 (RTTNews)

(RTTNews) - German unemployment remained unchanged in March, highlighting the resilience of the country's job market, data from the Federal Employment Agency showed Tuesday.

The unemployment rate remained unchanged at 6.3 percent in March and matched expectations. The number of people out of work also remained at the same level as in February, at 2.977 million, data showed.

As usual, the spring upturn in the labour market begins in March but without any significant momentum this year, head of the labour office Andrea Nahles said.

The slight fall in unemployment in March, suggests the labour market is holding up better than feared, ING economist Carsten Brzeski said. "However, the trend is still negative, and there is very little hope that private consumption can become a growth driver any time soon," he added.

"With the weakening labour market and increasing inflation, it is hard to see how private consumption could become a growth driver for the German economy this year," the economist said.

Data based on the labor force survey, published by Destatis showed that the unemployment rate was unchanged at adjusted 4.0 percent in February. The number of unemployed decreased 2,000 from the previous month to 1.76 million.

Destatis said employment was down 111,000 in February from the last year. The downward trend in the year-on-year labour market figures, which has been observed since August 2025 continued in February.

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