ifo Employment Barometer Rises (May 2022)
A growing number of companies in Germany are planning to hire new staff: the ifo Employment Barometer rose to 104.0 points in May after measuring 102.8 points in April. Germany’s robust economic development is also reflected in its labor market. Meanwhile, the shortage of skilled workers remains high. Companies are not able to fill all vacancies.
In manufacturing, the ifo Employment Barometer rose significantly. Electrical and electronics companies and manufacturers of machinery and equipment in particular are looking for personnel. Among service providers, the indicator reached its highest level since October 2018. The tourism and hospitality industries are urgently seeking employees to meet the pandemic backlog. However, in trade and construction, the willingness to hire is rather weak.
