ifo Employment Barometer Rises (May 2021)
German companies are planning to hire more employees. The ifo Employment Barometer rose to 100.2 points in May after measuring 98.3 points in April. This is its highest value since June 2019. Progress with vaccinations and the prospect of reopening the economy are having a positive effect on the labor market.
In manufacturing, the willingness of companies to hire new employees has risen steadily since its low point in May 2020. The need for new employees is particularly high in the electrical and electronics industries. In the service sector, the indicator surged. Logistics companies and IT service providers are looking for new personnel. In trade, prospects of reopening the economy are reflected in cautious optimism with regard to the hiring of new staff. There is also a slight trend toward the recruitment of additional staff in the construction industry.
