“The labor market is still shaped by the economic slump of recent years,” Nahles said Friday as unemployment topped 3 million for the first time since February 2015.
Germany has been battling prolonged economic weakness, and US President Donald Trump’s import tariffs pose a risk that it could be pushed into a third straight year without growth — something not seen in postwar history.
“The global economic uncertainties and Russia’s war of aggression against Ukraine are still leading to economic weakness,” Labour Minister Bärbel Bas said. “The cyclical headwinds continue to leave their mark on the labour market and require countermeasures.”
