August 29, 2022
German manufacturers of machinery and equipment are increasingly short of skilled workers. In the July ifo Institute survey, 43.0 percent of participating companies in the industry reported a shortage, compared with 38.7 percent in April. “Manufacturers of machinery and equipment are feeling the effects of layoffs they carried out before and during the coronavirus pandemic,” says Nicolas Bunde, an industry expert at the ifo Institute. “Now these companies are desperately seeking suitable staff.”
The shortage of skilled workers goes beyond trained mechatronics engineers, mechanics, and IT specialists; a shortage of low-skilled employees is emerging as well, according to 9.4 percent of companies surveyed in the industry, up from 8.3 percent in April. The industry is even more constrained by shortages of key intermediate products: 90.7 percent of companies said as much, up from 90.6 percent in June. “Material shortages have been the main problem for manufacturers of machinery and equipment since mid-2021,” Bunde says. The industry’s business outlook remains bleak. In July, expectations rose only slightly to minus 22.7 points, up from minus 23.2 points in June.
Source: ifo Institute
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