ifo Employment Barometer Falls (September 2022)
German companies’ willingness to hire is declining. The ifo Employment Barometer fell to 99.5 points in September, down from 100.9 points in August. However, companies are still looking to hire new employees, particularly in the service sector. Against the backdrop of the economic recession and with a view to the shortage of skilled workers, companies are focusing above all on retaining their employees.
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In manufacturing, the Employment Barometer dropped again; positive and negative responses are currently roughly in balance. In the service sector, the barometer declined but continues to indicate a positive willingness to hire. The IT sector and legal and tax consulting in particular are looking for new employees. In trade, businesses are continuing to suffer from poor consumer sentiment. Layoffs are more likely to occur than new hires. The construction industry has also been cautious in its workforce planning due to a large number of cancellations.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 09/21 | 10/21 | 11/21 | 12/21 | 01/22 | 02/22 | 03/22 | 04/22 | 05/22 | 06/22 | 07/22 | 08/22 | 09/22 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 09/21 | 10/21 | 11/21 | 12/21 | 01/22 | 02/22 | 03/22 | 04/22 | 05/22 | 06/22 | 07/22 | 08/22 | 09/22 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
