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ifo Employment Barometer Falls Sharply

Summary:
Ifo Employment Barometer for Germany - Results of the ifo Business Survey for November 2018 German businesses are still recruiting, but on a smaller scale than recently. The ifo Employment Barometer fell to 103.5 points in November from 104.6 points in October. The number of employees in Germany will continue to increase, albeit at a slower pace. The sharpest decrease in the Employment Barometer was seen in the service sector. A growing number of service providers reported a more cautious attitude to recruiting new staff, especially in the transport and logistics segment. The barometer decreased only slightly in trade and manufacturing, but companies in both sectors are still seeking to hire new staff. In construction the barometer hit a new

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ifo Employment Barometer for Germany - Results of the ifo Business Survey for November 2018

German businesses are still recruiting, but on a smaller scale than recently. The ifo Employment Barometer fell to 103.5 points in November from 104.6 points in October. The number of employees in Germany will continue to increase, albeit at a slower pace.

The sharpest decrease in the Employment Barometer was seen in the service sector. A growing number of service providers reported a more cautious attitude to recruiting new staff, especially in the transport and logistics segment. The barometer decreased only slightly in trade and manufacturing, but companies in both sectors are still seeking to hire new staff. In construction the barometer hit a new record high. Civil engineering firms in particular complained of a severe staff shortage. 

Clemens Fuest
Clemens Fuest took over from Hans Werner Sinn as chairman of the IFO Institute in April 2016. He is professor at the Faculty of Economics of the University of Munich.

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