ifo Employment Barometer Rises (November 2022)
Companies in Germany are looking to hire more staff. The ifo Employment Barometer rose to 99.6 points in November, up from 97.8 points in October. Against the backdrop of decreasing uncertainty, the number of employees in Germany could continue to rise. However, the shortage of skilled workers will remain a lasting problem.
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In manufacturing, the ifo Employment Barometer rose slightly for the first time after falling for five straight months. However, companies are still somewhat cautious about increasing their headcount. In contrast, the indicator for the service sector increased significantly. While the IT industry is constantly looking for new employees, the hospitality industry, too, is looking to hire more for the holiday season. In trade, though, layoffs are still expected. In construction, the trend is for a slightly higher level of new hires.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 11/21 | 12/21 | 01/22 | 02/22 | 03/22 | 04/22 | 05/22 | 06/22 | 07/22 | 08/22 | 09/22 | 10/22 | 11/22 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 11/21 | 12/21 | 01/22 | 02/22 | 03/22 | 04/22 | 05/22 | 06/22 | 07/22 | 08/22 | 09/22 | 10/22 | 11/22 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
