ifo Employment Barometer Falls (February 2023)

The willingness among companies in Germany to hire new staff has decreased somewhat. In February, the ifo Employment Barometer fell to 99.4 points, down from 100.1 points in January. In view of the shortage of skilled workers, however, it is to be expected that companies in many industries will continue to look for employees.

Download

In manufacturing, companies have become slightly more reluctant to hire. Manufacturers of machinery and equipment and companies in the electrical and electronics industry continue to hire new staff. In energy-intensive industries, such as the chemical industry, the situation is difficult. The willingness among service providers to hire new staff has decreased somewhat – with the exception of tourism and hospitality, where the number of new job ads is increasing. In trade, companies continue to be reluctant to hire new staff. The same applies to construction.

Infographic, ifo Employment Barometer, February 2023

Infographic, ifo Employment Barometer by Sector, February 2023

ifo Employment Barometer Germany

(Index, 2015 = 100, seasonally adjusted)

	02/22	03/22	04/22	05/22	06/22	07/22	08/22	09/22	10/22	11/22	12/22	01/23	02/23
Barometer	104.3	102.1	102.7	103.9	103.2	101.1	100.9	99.5	97.8	99.6	99.6	100.1	99.4

Source: ifo Business Survey.
© ifo Institute

ifo Employment Barometer by Sector

(Balances, seasonally adjusted)

	02/22	03/22	04/22	05/22	06/22	07/22	08/22	09/22	10/22	11/22	12/22	01/23	02/23
Manufacturing	20.5	11.2	6.8	11.6	10.0	8.0	4.4	1.9	-0.6	1.5	1.3	4.3	1.5
Service Sector	15.5	13.3	17.1	19.9	18.3	12.5	13.8	10.3	5.0	10.7	9.7	10.0	8.5
Trade	8.2	3.3	4.2	2.4	2.4	-2.0	-3.9	-5.1	-4.9	-5.5	-1.5	-0.5	1.2
Construction	10.2	4.0	3.1	5.1	1.6	0.7	3.5	-1.6	0.2	2.4	-0.5	3.0	-1.6