Shortage of Skilled Workers Is Increasingly Becoming a Burden on the German Economy

As part of the ifo Business Survey, the ifo Institute collects data on the shortage of skilled labor from around 9,000 German companies once a quarter. In October, 43.0 percent of all survey participants stated that their business was currently hampered by a shortage of qualified staff – the highest proportion ever. In July, the figure was significantly lower at 34.4 percent. Especially among some service providers, such as accommodation, transport and logistics, or temp agencies, a majority of companies complain about problems in finding qualified personnel. However, the problem of a shortage of skilled workers is currently becoming increasingly acute in almost all of the other economic sectors surveyed, too. In view of demographic change, labor shortages are likely to remain a major challenge for the German economy in the future.