ifo Employment Barometer Rises (July 2020)
German companies are planning to lay off less staff. The ifo Employment Barometer climbed to 93.2 points in July after measuring 92.3 points in June. But the labor market is not out of the woods yet. Layoffs are still planned in many places, especially in industry. However, pessimism has declined noticeably in the last two months.
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In industry, the barometer rose again, but signs at many companies are still pointing to job cuts. In trade, the situation is slowly easing. Companies that want to lay off employees are still in the majority, but they are fewer in number than in the previous month. In the service sector, layoffs and new hires are more or less in balance. Only in the construction industry did the employment barometer fall.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
