Hardly any changes compared to the previous month: The IAB labor market barometer remains stable. However, a possible fourth wave is causing concern.
The German labor market remains stable. The labor market barometer of the Nuremberg Institute for Labor Market and Occupational Research only lost 0.1 points in July compared to the previous month and came to 107.1 points, as the institute announced.
A value of 100 is considered neutral, a value over 100 indicates a positive development for the near future. For the labor market barometer, all German employment agencies are asked about their expectations for the next few months. The Federal Employment Agency will announce its statistics for July on Thursday.
«The employment agencies continue to expect a significant recovery on the labor market. But optimism seems to have reached the end of the flagpole, ”said Enzo Weber, head of the IAB’s research department, Forecasts and Macroeconomic Analyzes. Above all, a possible fourth wave of the corona pandemic could soon dampen expectations again.
Another problem for the labor market is the shortage of skilled workers. The indicator for the shortage of labor fell by around a third during the crisis, but rose significantly again, especially in the last two months. “The shortage of skilled workers is gaining in importance again in parts of the economy, but unemployment and short-time working are still significantly higher than before the crisis,” said Weber.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
