"The unemployment rate declined distinctly to last year and now is 5.3%. This shows that the employment and labour market remains on the winning track in Baden-Württemberg. The rise of unemployment compared to July can be ascribed to seasonal reasons and lies within the scope of the previous year" declares Nicole Hoffmeister-Kraut, Minister for Economic Affairs and Employment in Baden-Württemberg, with regard to the release of the job market data.
In August 221.925 people were jobless in Baden-Württemberg. This means 12.524 or rather 5.3 % less than in the previous year. In August 2016, 234.449 people were unemployed. In the course of the year unemployment rate declined from 3.9% to 3.6%. Compared to July 2017 the number of unemployed people increased by 12.257.
Prospects for young people are still good
According to the Minister, "the analysis of the latest job market data shows that the number of jobless youths again rises disproportionally strong this year". Unemployment among young people under 25 years rose in August to 25.579 (5.130 more than the previous month). Thus, youth unemployment rate hit 3.6%, but remained beneath the rate from the previous year which was 3.8%. However, this development can be traced back to graduation from educational and vocational training as well as summer holidays. Numbers will thus decline again in September partly because prospects of vocational training as well as employment and labour market for young people in Baden-Württemberg are still good.
Given the steady, rising availability of jobs, currently there are almost 109.000 vacancies which is almost 11.000 more than in the previous year, young qualified people have good prospects for a job. "The high demand for jobs shows that securing the need for skilled workers still remains one of the major challenges for companies and enterprises in Baden-Württemberg. Further vocational training thus remains a prior aim of labour market policy" Hoffmeister-Kraut declared.