Stable labor market: July remains unchanged

Stable labor market: July remains unchanged

Labor market in Baden-Württemberg despite the weakening economy stable

Baden-Württemberg, August 3, 2023-Despite the current difficulties in the economy, the labor market in Baden-Württemberg remains stable. According to the latest labor market data, the unemployment rate in July 2023 is still 3.8 percent. There is an increase compared to the previous month, but there are still many open training positions.

The Minister of Economics and Labor, Dr. Nicole Hoffmeister-Kraut, said: "The weakening economy does not pass the labor market in Baden-Württemberg without a trace. But even if the growth is currently missing, the labor market remains robust." The minister commented on the publication of the current labor market data for the federal state.

Specifically, the unemployment rate in July is 3.8 percent, which corresponds to a total number of 243,870 people without work. Compared to the previous month of June 2023, 5,393 unemployed were recorded more, which corresponds to an increase of 2.3 percent. Compared to the same month last year, there are currently 16,989 unemployed more, which corresponds to an increase of 7.5 percent. In July 2022, the unemployment rate was 3.6 percent.

Despite these increasing numbers, the minister currently sees no reason to panic. However, she also emphasized that the current economic forecasts make it clear that measures urgently need to be taken to bring Germany back on growth. It is important to grant the company the necessary support to secure jobs and create new ones, said the minister.

It is encouraging that despite the weakening economy, the labor market in Baden-Württemberg remains robust. Nevertheless, politics should become active to boost the economy and thus offer people in the long term safe and permanent employment. At the same time, companies should be encouraged to provide training positions to offer young people a perspective.

Overall, the current labor market data suggests that Baden-Württemberg is well positioned and that the effects of the weak economy can cushion well for the time being. Nevertheless, politics should not remain idle and take appropriate measures to promote growth and keep the labor market stable in the long term.