Germany’s Shortage of Skilled Workers Worsens Slightly

More and more German companies are short of skilled workers, finds the latest ifo Business Survey of around 9,000 companies throughout Germany. According to the survey, 43.1% of firms reported suffering from a shortage of qualified workers in July, up from 42.2% in April 2023. “Despite a sluggish economy, many companies are still desperately searching for suitable employees,” says ifo expert Stefan Sauer. The all-time high of 49.7% was reached in July 2022.

The service sector has been hit particularly hard. In legal and accounting services, 75.3% of companies are not finding the applicants they need. About two-thirds of companies in transportation, architecture, and engineering report a shortage of skilled workers – a new high for these industries.

Among IT equipment manufacturers, 43.1% of the companies surveyed are affected. For manufacturers of machinery and equipment, this figure is 40.9%. Overall, the share in manufacturing decreased slightly to 34.6%. In trade and construction, somewhat less than one-third of companies complain about a shortage of qualified workers.