ifo Employment Barometer Falls Again (July 2024)
Companies in Germany are proving more cautious in their personnel planning. The ifo Employment Barometer fell to 95.4 points in July, down from 95.9 points in June. “Due to the stagnating economic development, the willingness to hire new staff is decreasing,” says Klaus Wohlrabe, Head of ifo Surveys. “Where there is a lack of orders, there is no need for additional staff.”
In manufacturing, the barometer remained unchanged. Many companies are discussing job cuts. The same applies to the retail sector, where consumer restraint is having a negative impact on business. Despite the crisis, the headcount in the construction industry will remain constant for the time being. Only the service providers are still hiring new staff in some cases, but fewer than in the previous month.
