ifo Employment Barometer Rises Slightly (May 2020)
German companies are still expecting a decline in employee numbers. Nevertheless, the ifo Employment Barometer rose to 88.3 points in May after measuring 86.3 points in April. But despite this increase, the number of layoffs will again exceed that of hires, which means that unemployment in Germany is set to rise further.
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Following a sharp fall on the barometer in all four sectors in April, three sectors have now seen some improvement. Only manufacturing saw more companies once again report a declining trend in employee numbers. The most pronounced rise on the barometer was in the service sector, closely followed by trade. However, people are still being laid off in most sectors, with clothing and fashion retailers among the most affected. Glimmers of hope can currently be found among management and tax consultancies, as well as auditors, as they seek to hire more staff. Food retailers and bike shops are in a similar position, with the latter also seeing a high demand for repair services.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 05/19 | 06/19 | 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 05/19 | 06/19 | 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
