Führungskräfte: Hochqualifiziert, erfolgreich, arbeitssuchend – Vier Betroffene berichten

Working in Germany used to mean being diligent, motivated, and qualified – you would find opportunities. However, the job market has changed. Due to the recent economic downturn, many companies are not only hiring fewer people, but also cutting positions. According to the Institute for Employment Research (IAB), around 15,000 jobs are lost each month in the industry alone.

This means that a growing number of job seekers are encountering fewer open positions. What is new is that it is increasingly affecting highly qualified academics, managers, or executives. Within a year, the number of unemployed executives across all sectors has risen by 14 percent, as shown by figures from the Federal Statistical Office.

The proportion of academics unemployed for over a year has also recently increased. The Handelsblatt started an appeal on the job platform LinkedIn, to which more than 100 affected individuals have responded. They are qualified, many led teams, and some held C-level positions. Most were dismissed or offered a contract termination.

Some also resigned from their employer, believing they would quickly find something new. Most of them are between 50 and 60 years old. Four of them share with us how the prolonged job search affects them and the challenges they face due to unemployment.