Labor market
IFO: Companies want to dismantle personnel
Many German companies actually lack the youngsters, but there is hardly a speech of the shortage of skilled workers due to the permanent crisis. Instead, the warning signs for the labor market are increasing.
Many companies in Germany want to reduce personnel because of the poor economic situation. The employment barometer of the Munich IFO Institute fell to 93.0 points in February, after 93.4 points in January.
Apart from some intermediate highs, the indicator has been in the downward trend for almost three years. The employment barometer last stood as deep as this winter in the first year of Corona Pandemie 2020.
“The situation on the labor market remains tense, also because of the structural change in the economy,” said IFO conversor manager Klaus Wohlrabe. Service cuts are therefore planned in all of the four sampled industry: industry, services, trade and construction.
In industry and trade, the tendency towards reducing the workforce is comparatively large, while in service providers and in the building main industry, Wohlrabe said.
As part of their economic surveys, the economists ask around 9,000 companies per month whether they want to increase, keep or reduce their staff. The answers of the companies are first weighted for the calculation of the indicator value according to size or sales of the company and then summarized according to the value -added shares of the individual industries.
dpa
Source: Stern
