ifo Employment Barometer Falls Slightly (June 2024)

Companies in Germany are looking to hire less staff. The ifo Employment Barometer fell to 95.9 points in June, down from 96.3 points in May. “A lack of orders is deterring many companies from expanding their workforce,” says Klaus Wohlrabe, Head of Surveys at ifo. “If anyone, it’s service providers who are tending to hire new employees.”

The barometer dropped in manufacturing, where companies are more likely to consider cutting jobs. Vacancies are not being filled. The current mood in the retail and construction sectors also points to a decline in the number of employees. Only service providers are still planning to hire new staff, albeit less strongly than recently. This applies in particular to the tourism, IT, and management and tax consultancy sectors.