June 10, 2024
ifo Employment Barometer Rises (May 2024)
The willingness among companies in Germany to hire new staff has increased slightly. The ifo Employment Barometer rose to 96.3 points in May, up from 96.0 points in April. “Demand for workers remains rather weak,” says Klaus Wohlrabe, Head of Surveys at ifo. “Those companies that are experiencing a lack of orders are also thinking about cutting jobs.”
In manufacturing, despite the rise in the indicator, there is still a tendency for companies to reduce their workforce. Virtually no industry is planning to step up recruitment. In trade, companies also want to make do with fewer staff. Among service providers, the barometer rose slightly. The tourism industry is looking for new staff ahead of the vacation season. Management consultancies also plan to increase headcount. In construction, the indicator fell. The lack of orders in particular is having a negative impact on personnel planning.
Source: ifo Institute
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