ifo Employment Barometer Rises Slightly (June 2023)

The willingness among companies in Germany to hire new staff has improved slightly. The ifo Employment Barometer rose to 98.4 points in June, up from 98.2 points in May. “But in manufacturing in particular, the sector’s budding pessimism is reflected in its cautious personnel planning,” says Klaus Wohlrabe, Head of Surveys at ifo. “Only service providers continue to consider hiring new people.”

In construction, the barometer was slightly down. Expectations increased in the service sector, in particular due to developments in real estate activities. In logistics, the hiring momentum of previous months has stalled for the time being. The indicator in trade has risen slightly from a low level, but staffing levels are still expected to decline.