ifo Employment Barometer Sees a Minimal Decline (December 2022)
The willingness among companies in Germany to hire new staff has dipped slightly. The ifo Employment Barometer reached 99.5 points in December, down from 99.6 points in November. Nevertheless, the employment outlook for the first quarter of 2023 is positive, driven primarily by service providers. Personnel service providers are also optimistic about the coming months.
In manufacturing, the Employment Barometer fell slightly. Positive and negative responses are roughly in balance. In the service sector, the indicator fell, even though almost all industries are looking for new employees. Only the hospitality industry is expecting layoffs after Christmas. In trade, the barometer made clear gains; however, there will be no increase in employment here for the time being. The same applies to construction.
