ifo Employment Barometer Rises Notably (March 2021)
German companies are increasingly looking to hire new employees. The ifo Employment Barometer rose sharply in March to 97.6 points, up from 94.5 points in February. This is its highest level since February 2020. The labor market is starting to recover, despite the lockdown.
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In manufacturing, the upswing is also continuing to make itself felt on the labor market. Strong industrial activity is now motivating companies to start hiring. The electrical and electronics industries in particular is looking for new employees. Employment expectations have also improved noticeably in the service sector, with logistics companies and IT service providers driving this development. In trade, the situation recovered somewhat. There is slight optimism in wholesale, while more employees are being laid off in retail. There is little movement at this time in construction.
ifo Employment Barometer Germany
(Index, 2015 = 100, seasonally adjusted)
| 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | 01/21 | 02/21 | 03/21 | |
| Barometer |
Source: ifo Business Survey.
© ifo Institute
ifo Employment Barometer by Sector
(Balances, seasonally adjusted)
| 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | 01/21 | 02/21 | 03/21 | |
| Manufacturing | |||||||||||||
| Service Sector | |||||||||||||
| Trade | |||||||||||||
| Construction |
Source: ifo Business Survey.
© ifo Institute
