ifo Employment Barometer Rises Slightly (November 2020)
Since October, the number of German companies considering hiring new staff has risen somewhat. The ifo Employment Barometer climbed to 96.7 points in November after measuring 96.4 points in October. For the time being, the second wave of coronavirus is not having major negative effects on the German labor market. However, developments vary widely by industry.
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In manufacturing, the ifo barometer rose slightly; nevertheless, more companies are planning layoffs than are expecting to increase headcount. Service providers, especially in IT, tend to be planning to hire new people. In the travel and hospitality sectors, by contrast, layoffs are unavoidable. The barometer in trade slipped downward a bit, but right now companies in this area expect headcount to remain the same. Construction continues to seek out new employees to work through the current orders.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
