Upswing in German labour market as firms seek more employees

Labour Market
Labour Market

German companies are again becoming more active in their search for employees, according to a survey released on Friday.

The Ifo Employment Barometer rose to 103.6 points in August, an increase of 1.2 points compared to the previous month.

The upturn in the labour market is continuing, the Ifo Institute in Munich concluded from the data.

Ifo asks companies every month whether the their employee head count will increase, remain the same, or decrease over the next three months.

If the negative reviews predominate, the barometer will drop compared to the previous month.

In the manufacturing sector, the employment barometer fell slightly. But companies in the electrical and mechanical engineering industries in particular continued planning to increase their workforce.

There has been positive trends in the construction industry, too.

In the case of service providers, the earlier sharp decline in the barometer was partially made up, but there is reluctance in the hospitality industry due to the rising number of coronavirus infections.

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