ifo Employment Barometer Rises Marginally (October 2020)
German companies are cautiously optimistic about hiring. The ifo Employment Barometer climbed to 96.5 points in October after measuring 96.3 points in September. This indicates growth in the workforce in the fourth quarter, but risks remain due to the coronavirus crisis.
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In manufacturing, the barometer rose for the fifth consecutive month. Nevertheless, more companies are planning layoffs than hiring. Service providers want to grow headcount, but are somewhat more cautious than in the previous month. Trade continues to benefit from positive consumer sentiment, with more new hires planned in this area. The construction industry, too, is continuously expanding its workforce.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
