As of: March 28, 2024, 3:40 p.m
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A sign on the facade indicates the employment agency. © Marijan Murat/dpa
After the winter, the number of unemployed people usually decreases. The spring recovery has also hit the labor market in Hamburg again. But the Hamburg employment agency is not entirely satisfied.
Hamburg - Spring also led to slightly less unemployment in Hamburg. The number of unemployed people in the Hanseatic city fell by 0.7 percent to 87,356 in March compared to February. The Hamburg employment agency announced on Thursday that the unemployment rate fell by 0.1 points to 8.0 percent. Compared to the same time last year, the number of unemployed rose by 11.7 percent; the rate at that time was 7.3 percent. For the statistics, the Federal Agency used data that was available up to March 13th.
In the first quarter of the year, the mood in the German economy brightened cautiously, said the head of the Hamburg employment agency, Sönke Fock. The reasons for this include fewer delivery bottlenecks and the lowest inflation rate since 2021 at 2.5 percent. “The subdued domestic economy is explained by consumer restraint and the decline in construction activity. Looking at the global economy, this can be explained by the weakness in exports.”
In Fock's opinion, there is no real easing in the labor market. It is positive that 468 more people started work in March than in the previous month (plus 9.1 percent). Accordingly, 5,632 people started working in March. Fock also said it was a positive development that the number of people who filed for unemployment due to employment fell from January to March. According to the employment agency, 6,125 people in Hamburg became unemployed in March, 706 fewer than in February and 1,871 fewer than in January. “It is an indication that companies are holding on to their employees despite economic weakness, which should be viewed positively in anticipation of an imminent upswing,” said Fock.
According to the information, there are 11,817 jobs subject to social insurance available to job seekers in Hamburg. In March, 2,341 new vacancies were reported, 274 fewer than in February (minus 10.5 percent). The number of positions to be filled is stable year-on-year.
According to the labor market report, Eimsbüttel had the lowest unemployment rate of the districts at 5.8 percent. The districts of Mitte (10.1 percent) and Harburg (9.7 percent) recorded the highest unemployment. The quotas were calculated for February 2024. dpa