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Shopping street in Düsseldorf: retail makes a significant leap up
Photo: Ralph Peters / imago images / Ralph Peters
As the economy picks up, more German companies are planning to hire new staff.
The employment barometer climbed by 0.9 to 96.3 points in September and thus for the fifth time in a row, as the Munich-based Ifo Institute announced on Monday for its monthly company survey.
It is the highest value since February.
With the beginning of the corona crisis, the willingness of companies to hire had decreased significantly.
"The economic recovery is increasingly reflected in employment," said Ifo expert Klaus Wohlrabe.
After the historic Corona slump of 9.7 percent in gross domestic product in spring, the institute expects growth of 6.6 percent in the summer quarter that is coming to an end.
The industry recently continued its upward trend.
"Overall, however, employees are still more likely to be laid off than hired," said Wohlrabe.
The service providers, on the other hand, are planning to hire more staff - especially the IT service providers.
In the retail sector, the employment barometer made a significant leap up.
In the construction industry, too, companies are now planning to increase their workforce.
The Ifo Employment Barometer is based on around 9,000 monthly reports from companies in the manufacturing, construction, wholesale and retail trade and service sectors.
The companies are asked to report their workforce plans for the next three months.
You can mark your plans for the number of employees for the next three months as "increase", "stay the same" or "decrease".
The year 2015 was set as the starting point for calculating the index values.
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mik / Reuters
