According to a study by the Association of Research-Based Pharmaceutical Companies, record high levels of sickness in 2023 have pushed the German economy into recession.
Without the high level of sickness last year, the German economy would probably have grown and not shrunk: This is the result of a study by the Association of Research-Based Pharmaceutical Companies (VFA), from which the “Rheinische Post” quoted on Friday.
“Significant loss of work led to considerable losses in production – without the above-average sick days, the German economy would have grown by almost 0.5 percent,” it says.
Recession: German economy shrank by 0.3 percent
But the German economy shrank by 0.3 percent. “If sick leave had not been so high again, around 26 billion euros would have been generated additionally in 2023,” the authors write, according to the newspaper. According to the study, sickness rates in Germany last year once again exceeded the record level set in 2022.
The extent of sickness absence varied greatly depending on the industry. According to the study, around 70 percent of the production loss occurred in vehicle construction, mechanical engineering, metal, electrical, pharmaceutical and chemical industries due to the size of the respective industries. Sickness rates were highest in metal production at 6.8 percent.
The causes probably have to do with the pandemic and the contact restrictions, which would also have prevented flu and similar infections. The typical flu waves did not occur in 2020 and 2021. At the turn of the year 2021/22, the high incidence rates of the Omicron wave were reflected in sick leave, but from autumn 2022 onwards sick notes skyrocketed due to the pronounced flu waves and the increased occurrence of other respiratory diseases, the study authors explain.
Sources: with AFP and Reuters
Source: Stern
