ifo Employment Barometer Rises (April 2023)
Companies in Germany are more willing to hire new staff. The ifo Employment Barometer rose to 100.2 points in April, up from 99.9 points in March. “Employment is continuing to grow, although that growth is slowing, partly because of the shrinking population,” says Klaus Wohlrabe, Head of Surveys at ifo. “The drivers of employment growth in Germany are the service providers.”
In manufacturing, positive and negative responses are roughly in balance as regards employment plans. While manufacturers of machinery and equipment and electrical and electronics companies are looking for new staff, in the paper industry and among printers, layoffs are more likely. “Among service providers, tourism and the event industry in particular stand out; consumers in both areas still have a lot of pent-up demand.” In trade, there is a mild trend toward making do with fewer staff. Meanwhile, the difficult situation in construction is also reflected in the sector’s employment plans. Companies are being very cautious about hiring new staff.
