Labor market
No improvement in sight on the labor market
The employment agencies in Germany do not expect any improvement in the next three months. Industrial crisis and economic downturn leave their mark.
There is no stabilization in sight on the German labor market. The labor market barometer from the Institute for Labor Market and Occupational Research (IAB) fell by a further 0.3 points to a level of 99.5 points in November. This means it is below the neutral value of 100. The barometer is considered an early indicator of developments on the labor market in Germany. It is the result of a survey of all German employment agencies about their expectations for the next three months.
“The industrial crisis and the long-lasting economic downturn are leaving their mark on the labor market,” said IAB Professor Enzo Weber. It is expected that unemployment will continue to increase. “With rising unemployment, there is no trend reversal in sight until spring,” said Weber. The demand for workers has also continued to decline.
dpa
Source: Stern
