Press release -
ifo Employment Barometer Continues to Drop (August 2019)
Human resources departments at German companies are posting fewer and fewer new jobs. The ifo Employment Barometer fell to 98.1 points in August after measuring 99.5 points in July.
In the service sector, the barometer took a serious slide. The last time a drop of similar intensity was recorded was December 2007. Service providers are gradually forfeiting their role as employment drivers, as the recession in manufacturing has now finally spread to their sector. The barometer also fell in construction, although companies here are still planning to hire new workers. Employment levels in trade remained steady. The barometer actually rose in manufacturing, but companies looking to cut jobs are still in the majority.
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