30 Sept 2021
German Unemployment Rate Declines Despite Procurement Issues
The Index Today
Germany has reported a drop an unemployment levels for the month of September. Officials have suggested that the decline could possibly mean the supply chain bottlenecks faced by industrial firms has not yet affected jobs.
According to the Labor Office, a decline of around 33,000 unemployed individuals was seen despite Reuters making a forecast for 33,000. However, the seasonally adjusted jobless rate remains the same at 5.5%.
Daniel Terzenbach from the Federal Labour Agency said, “The labour market continues with its positive development. Unemployment and underemployment are both falling significantly.” Recently, approximately 77.4% of all industrial companies came forward to report procurement problems in the supply chain process for raw materials. Car manufacturing companies were among the leading firms where over 97% reported issues.