ifo Employment Barometer Plummets to Historic Low (April 2020)
The personnel departments of German companies are preparing for layoffs. The ifo Employment Barometer plummeted to 86.3 points in April after measuring 93.4 points in March. This represents a historic low. There has never been such a marked decline in the barometer itself, which will correspond to a rise in unemployment in Germany.
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In all four sectors, the decline in the barometer is unprecedented. The service sector even experienced a new alltime low, with layoffs expected for the first time since the financial crisis. In manufacturing, the trend in declining employee numbers that began prior to the financial crisis is set to intensify. In trade, headcounts will also drop, with supermarkets being the sole exception. And despite its recent boom, even the construction sector can no longer escape the negative trend in employment.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 04/19 | 05/19 | 06/19 | 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 04/19 | 05/19 | 06/19 | 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
