Job market study: Exclusive Ifo calculation: Job cuts in Germany come to a standstill
The employment barometer of the Ifo Institute for the Handelsblatt shows: the downward trend in the labor market has been halted for the time being. However, it's still too early to talk about the creation of new jobs.
Germany's economic downturn has halted for now, according to the Ifo Institute's employment barometer, which shows that job cuts have not continued. The barometer's value is based on surveys of around 9000 companies and shows a positive trend in the service sector, but a continued decline in industry and trade. Despite this, the five leading economic research institutes in Germany, including Ifo, DIW, and RWI, forecast a 1.3% growth in GDP this year and 1.1% next year.
However, due to an ageing population, employment numbers are not expected to increase, with the Institute for Labour Market and Vocational Research (IAB) predicting a decline in the workforce of 210,000 this year and 140,000 next year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
