The number of unemployed people is expected to rise in the coming months, the German Institute for Employment Research (IAB) announced on Monday.
Following a “temporary stabilization” in September, the monthly employment market index of the IAB institute declined again by 0.5 point but still remained at a “positive” level at 101.4 points in October, according to IAB.
The component of the IAB’s employment market index which is set to forecast the development of seasonally-adjusted unemployment figures declined to 98.2 points.
The indicator for the development of unemployment in Germany would be “clearly” below the neutral mark of 100 points, albeit “not very far in the negative range”, according to IAB.
“Unemployment will tend to increase as long as the economic downturn persists,” said Enzo Weber at the IAB institute.
In September, the number of unemployed people in Germany declined month-on-month by 85,000 to a total 2.23 million people, according to Germany’s federal employment agency (BA). Enditem