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MNI BRIEF: Germany's IFO Sees Short-Time Work Decline In Sep

(MNI) LONDON
LONDON (MNI)

The total number on Germany's short-term worker scheme fell to 3.7 million in September from 4.7 million in August, the Ifo Institute said Tuesday, pointing to data in its own monthly Business Survey.

Short-term work is steadily declining, but the percentage in industry still remains high, Ifo labor market economist Sebastian Link said in the report.

In manufacturing, an estimated 1.47 million employees were still on short-time work in Sept, representing 21% of the workforce. Among service providers, the figure was 1.23 million or 12%, and in trade it was 406,000 people or 9%. In construction, short-time work affected only 5,000 people or 1%, Ifo said.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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