ifo Employment Barometer Rises (December 2023)

More companies in Germany want to hire employees. The ifo Employment Barometer rose to 96.5 points in December, up from 95.9 points in November. “At the moment, service providers in particular are looking for new staff,” says Klaus Wohlrabe, Head of Surveys at ifo. “In manufacturing, however, a lack of orders is leading companies to be rather cautious.”

In manufacturing, the barometer fell again after a brief rise in the previous month. Companies are planning to get by with fewer staff. This pessimism extends across almost all industries. In trade, although the barometer has risen, new hires are rarely on the agenda. Among service providers, more companies are willing to hire employees, particularly in the IT and tourism industries. However, the hospitality industry is expecting layoffs. In construction, the barometer recovered somewhat. Due to the crisis, however, companies are holding back on hiring new staff.