August 2025 Labour Market Report Discussion Led by Andreas Audretsch

In August 2025, Germany's economy is grappling with a series of challenges that threaten the job security of millions. According to the latest Labor Market Report, over 3 million people are unemployed, a figure not seen since 2010.

The machinery industry is at risk, with every fifth job potentially at stake. The steel industry is facing a critical situation, using the phrase "the oven is out." The automotive industry, too, is still grappling with job losses, having shed 50,000 jobs.

The federal government is under pressure to take action. They are being urged to invest more in integrating the unemployed into work and further training. The current unemployment rate is a cause for concern, and it's clear that drastic measures are needed to address the issue.

The Chancellor is not immune to criticism. They are being criticized for a historically poor trade deal with Donald Trump, which some believe has allowed for US tariffs of 50 percent on steel, putting thousands of jobs at risk.

The responsibility for the current job losses and economic issues is not solely on the Chancellor's shoulders. Politicians such as Friedrich Merz and Katherina Reiche are also being held accountable. Merz is accused of not effectively protecting trade in Europe, allowing for these US tariffs, while Reiche is accused of causing chaos with erratic announcements regarding industrial programs, renewable energies, and a possible return to fossil fuels.

The situation is particularly dire for the automotive and machinery industries. If Europe accepts additional tariffs from the US, these industries will face increasingly serious problems. The steel industry warns that it is already facing a critical situation.

Andreas Audretsch, Deputy Parliamentary Group Leader, has commented on the August 2025 Labor Market Report, stating that the current unemployment rate is a cause for concern and that drastic measures are needed to address the issue. It's clear that action needs to be taken to prevent further job losses and stabilize Germany's economy.