German Employers Plan for Fewer Staff
According to the employment barometer measured by the Munich-based Ifo-Institute, the figure for February decreased to 93.0 points, down from 93.4 points in January. “The labor market remains tight and the structural changes in the economy also play a role” said Klaus Wohlrabe, head of Ifo surveys.
Industrial companies are planning a significant reduction in staff, despite a slight increase in the barometer in February. Service providers are adjusting their personnel planning for the coming months to be more restrictive, particularly in the IT sector, which has hit the brakes. The retail sector remains challenging, with companies aiming to manage with fewer staff. The construction industry shows a slight trend towards fewer employees.