ifo Employment Barometer Rises (January 2023)
The willingness among companies in Germany to hire new staff has increased. The ifo Employment Barometer rose to 100.2 points in January, up from 99.6 points in December. As pessimism wanes in the German economy, the labor market is following suit.
In manufacturing, the ifo Employment Barometer rose noticeably. Demand for new staff is particularly strong among manufacturers of machinery and equipment and in the electrical and electronics industry. Service providers are also more willing to hire. In the IT industry in particular, many positions are unfilled. The layoffs at large IT companies are an opportunity for many small and medium-sized businesses to hire new employees. In trade, plans for layoffs and hires remain more or less in balance. In construction, employment expectations are slightly positive despite the difficult environment.
