ifo Employment Barometer Tumbles (March 2022)
The willingness among companies in Germany to hire new staff has taken a knock. The ifo Employment Barometer fell to 102.1 points in March, down from 104.3 points in February. This is its lowest level since May 2021. The current high level of uncertainty in the economy due to Russia’s attack on Ukraine is making companies more cautious when it comes to personnel planning. However, there are no signs of an increase in unemployment at this time.
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In manufacturing, the ifo Employment Barometer fell noticeably. Companies still want to hire, but to a lesser degree than was recently the case. The indicator fell in the service sector, too, but is still at a high level. Demand for new employees is particularly strong in hospitality. Trade and construction are currently reluctant to create new jobs.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 03/21 | 04/21 | 05/21 | 06/21 | 07/21 | 08/21 | 09/21 | 10/21 | 11/21 | 12/21 | 01/22 | 02/22 | 03/22 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 03/21 | 04/21 | 05/21 | 06/21 | 07/21 | 08/21 | 09/21 | 10/21 | 11/21 | 12/21 | 01/22 | 02/22 | 03/22 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
