Unemployment in Germany to rise again slightly in coming months
December 31, 2021, 7:20 am

Unemployment in Germany to rise again slightly in coming months

Unemployment/Pixabay

The Xinhua reported that the German Institute for Employment Research (IAB) said on Thursday, unemployment in Germany would rise again slightly over the next few months.

Enzo Weber, head of the IAB research department forecasts and macroeconomic analysis, said: "The Omicron variant continues to prolong the coronavirus crisis. This is particularly critical for long-term unemployment.".

According to the research institute of the Federal Employment Agency (BA), the IAB labor market barometer fell by 2.4 points to 101.5 in December, the fourth consecutive monthly decline and the sharpest fall since April 2020.

Germany-Cologne-Rheinufer Tunnel/Pixabay

Both components of the barometer fell significantly. The early indicator for the development of Germany's labor market declined by 2.6 points and fell below the medium mark of 100 points for the first time in more than a year. The current employment indicator also declined and stood at 104.1 points in December.

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IAB noted: The "employment trend is thus flattening out, but remains positive."

But Weber said the overall labor market will not collapse even if there is another lockdown, stressing that many German companies were holding on to their workforce.

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The number of unemployed in November continued to decline significantly by 382,000 year-on-year to 2.317 million, according to BA. The unemployment rate fell by 0.1 percentage points month-on-month to 5.1 percent.

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”