ifo Employment Barometer Down (December 2020)
German companies are becoming more cautious on the labor market. The ifo Employment Barometer fell to 95.5 points in December after measuring 96.7 points in November. The hard lockdown is making companies more reluctant to hire new people.
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Although the barometer rose in manufacturing, the number of employees is not expected to grow. The same applies to trade: the indicator rose slightly here as well, but for the time being, companies are not planning any major changes to headcount. Service providers have cut back their hiring plans. There is caution especially among architectural and engineering firms and companies in real estate. Both the IT sector and construction continue to seek out new hires, but the latter is doing so with less vigor than in the previous month.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
