ifo Employment Barometer Rises (March 2024)
Companies in Germany are again looking to hire more staff. The ifo Employment Barometer rose to 96.3 points in March, up from 94.9 points in February. “Companies are currently more willing to hire because they are better able to assess the economic conditions. Skilled workers continue to be in demand,” says Klaus Wohlrabe, Head of Surveys at ifo.
Despite the overall positive trend, manufacturing companies are still expecting to cut jobs. This is also true of the trade sector. “Rising real wages at least give retailers hope that consumption will pick up again. This is then reflected in their personnel planning,” Wohlrabe says. The barometer rose in the service sector, with tourism advertisers in particular looking to recruit additional staff. The crisis in the construction industry, on the other hand, continues to put pressure on the sector’s labor market, which will tend toward layoffs.
