Germany's unemployment rate remained at 5.9% in February, with 2.713 million jobless, while factory material shortages increased to 14.6%.

Germany's unemployment rate held steady at 5.9% in February, remaining at its highest level since May 2021, while joblessness increased by 11,000 to 2.713 million. The labor market's resilience has been one of the few positive aspects for Europe's largest economy, which may be experiencing a winter recession. Additionally, the proportion of German factories reporting material shortages increased to 14.6% in February, from 12.5% in January, due to geopolitical tensions and strikes affecting supply chains.

February 28, 2024
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