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MNI BRIEF: Hiring Intentions Rise in Germany: Ifo

MNI (London)
VIENNA (MNI)

Prospects of the economy reopening and vaccinations gaining momentum are having a positive effect on the labour market, the Munich-based Ifo institute said Thursday. German firms plan to increase their staff levels further, the Ifo Employment barometer suggested, as it rose to 100.2 in May, its highest level since June 2019.

Companies hiring intentions rose steadily in the manufacturing sector over the last year, while the electrical and electronics industries have a particularly high need for new staff. Service sector employee needs increased sharply with logistic firms and IT service providers leading the way. In trade, companies were more optimistic towards hiring new staff, due to the planned easing of restrictions.

Source: Ifo Institute

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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