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Closed retail store: "Transformative recession"
Photo: Jens Kalaene / dpa
Home office, new production cycles, completely closed industries: The corona crisis has shaken the German economy.
According to a new research report from the Nuremberg Institute for Employment Research (IAB), she will continue to feel the effects of the pandemic until at least 2025.
The gross domestic product alone will have to accept reductions of 0.6 percentage points over the next five years because of the crisis, said Enzo Weber, one of the authors of the report.
A long-term minus of 200,000 jobs must be expected on the labor market by 2025.
Further qualification important
Retail, business services, hospitality, transport, aviation and aircraft construction in particular have felt the crisis longer, he said.
In contrast, there are positive effects in the areas of IT, public services and pharmaceuticals.
In total, 500,000 jobs would be cut and 300,000 built in Germany due to the pandemic.
»The corona crisis is a transformative recession that will keep the job market at bay for even longer.
As a result of the pandemic, hundreds of thousands of jobs will be cut in the long term, but new ones will also be created, "said Weber.
"In order to cope with the upheavals, a focus on further qualification and the creation of new jobs is central."
The longer the pandemic, the more profound the changes
In addition, according to the authors of the study: the longer the pandemic lasts, the more likely it will be that newly practiced behavior, production methods and working methods will be retained.
"This means that economic development in Germany may be facing a radical change that could trigger further changes that have not yet been researched."
Many other problems are unlikely to show up until the future.
Due to the generous regulations on short-time work benefits and the suspension of the obligation to file for insolvency, only limited statements can be made about the actual survival of many companies.
Read the analysis here: Where in Germany the »zombie companies« lurk - and where not.
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mik / apr / dpa-AFX