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Ifo employment barometer is falling: companies are hiring fewer people


Because of the lockdown, many jobs will be lost in Germany. The retail sector in particular is affected, data from the Ifo Institute show. But there is one exception: supermarkets are looking for more employees.

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Business in Berlin: closed shops, fewer jobs

Photo: Wolfgang Kumm / dpa

The subdued economic outlook is also having an impact on the personnel plans of German companies.

The Ifo employment barometer fell in January compared to December by half a point to 95 points.

"The lockdown leads to more layoffs, especially in retail," said Ifo President Clemens Fuest on Wednesday in Munich.

In industry, the barometer rose for the eighth time in a row.

"Nevertheless, the companies that say they are reducing their number of employees are still in the majority."

The Ifo Institute asks the companies every month whether the number of their employees will increase, stay the same or decrease in the next three months.

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

Supermarkets, IT industry and management consultancies are hiring

In retail, more layoffs were announced due to the lockdown, it said.

"The only positive exception are the supermarkets, where employees are still being sought," said Fuest.

The IT industry and management consultancies continue to have expansive personnel plans.

Despite the winter months, some companies in the construction industry want to increase their staff.

In the case of service providers, the information on recruitment and layoffs is roughly balanced.

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caw / dpa / Reuters

Source: spiegel

All business articles on 2021-01-27

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