Germany: Ifo – employment barometer falls in June, labour market remains weak

The service sector is particularly hard hit, whilst the industrial sector remains under pressure

(Il Sole 24 Ore Radiocor) - The German employment barometer, as measured by the Ifo Institute, has fallen: in June, the indicator dropped to 92.3 points from 93.9 the previous month.

"The labour market remains weak," says Klaus Wohlrabe, head of surveys at the Ifo Institute. "Germany is still a long way from a sustainable recovery in employment."
In the industrial sector, labour market conditions remain tight,” explains the survey, “and although the index has shown a slight improvement, plans to reduce staff numbers are still prevalent.
In the wholesale and retail trade, staff cuts are once again rising more sharply. In the services sector, the barometer has fallen sharply: the situation remains particularly difficult for temporary employment agencies and in the tourism sector. In the construction sector, however, no significant changes are expected: companies intend to keep their workforce largely stable.

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