Press release -
ifo Employment Barometer Falls Again (July 2022)
The willingness among companies in Germany to hire new staff has taken a significant knock. The ifo Employment Barometer fell to 101.1 points in July, down from 103.3 points in June. Overall, companies are still planning to recruit new staff, but have become more cautious in their personnel planning due to the current high level of uncertainty.
In manufacturing, the Employment barometer again fell slightly; despite this, there is still a major need for new hires, particularly in the automotive and electrical industries. In the service sector, the indicator fell noticeably. The hospitality industry in particular has hit the brakes on new hiring. Trade and construction companies still have very little need to hire new staff.
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