ifo Employment Barometer Climbs Again (August 2020)
German companies are scaling back their layoff plans. The ifo Employment Barometer climbed to 95.4 points in August after measuring 93.2 points in July. A turnaround is imminent on the German labor market: after layoffs in recent months, the first signals for new hires have now appeared.
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In industry, the barometer rose considerably. Nevertheless, more companies are still tending toward laying employees off rather than hiring them. The service sector is seeing the first signs of new hires, with demand for new employees especially strong in IT. Trade continues to be reluctant to recruit staff and tends to expect layoffs. Only the construction industry is currently displaying little movement in employment development.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
