ifo Employment Barometer Down (July 2021)

German companies are slowing their plans to hire new staff somewhat. The ifo Employment Barometer fell to 102.4 points in July, down from 103.8 points in June. The German labor market is continuing to recover, albeit at a slower pace.

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In manufacturing, the Employment Barometer made a significant leap upward. The chemical industry, among others, is increasingly looking for employees. In the service sector, in contrast, the barometer suffered a significant setback. Personnel service providers in particular were more hesitant. Some caution also returned in logistics. In trade, meanwhile, growth in new hires is slowly picking up speed. Construction companies are expecting the number of employees to remain constant.

ifo Employment Barometer, July 2021, Sectors

ifo Employment Barometer Germany

(Index, 2015 = 100, seasonally adjusted)

	07/20	08/20	09/20	10/20	11/20	12/20	01/21	02/21	03/21	04/21	05/21	06/21	07/21
Barometer	93.3	95.3	96.1	96.3	96.6	95.5	95.2	94.6	97.6	98.3	100.2	103.8	102.4

Source: ifo Business Survey.
© ifo Institute

ifo Employment Barometer by Sector

(Balances, seasonally adjusted)

	07/20	08/20	09/20	10/20	11/20	12/20	01/21	02/21	03/21	04/21	05/21	06/21	07/21
Manufacturing	-22.7	-18.9	-16.3	-13.8	-13.5	-11.1	-9.2	-5.4	-0.4	2.5	4.1	8.9	16.3
Service Sector	-1.6	4.0	4.6	3.0	4.7	-0.5	-0.4	-4.2	4.0	4.0	9.3	19.2	10.4
Trade	-7.9	-8.0	-4.1	0.1	-2.5	-1.5	-8.6	-8.0	-3.9	0.2	3.5	7.6	10.1
Construction	0.5	1.5	5.6	5.2	5.2	3.3	2.0	-1.0	-1.0	0.9	2.6	4.5	2.5