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The number people in short-term work declined in almost every sector of the German economy in March, even trade and hospitality, although actual numbers remain high in those customer-facing sectors, the Ifo Institute's labour market expert Sebastian Link said Wednesday.
Ifo estimates that 2.7 million people were in short-term work in March, which represents 8.0% of employees subject to social security contributions, compared to 2.9 million in February (8.7%). The proportion of staff on short-term work fell markedly in the industrial sector, down 0.8pp to 6.3%, which is below the economy's average.
Source: Ifo Institute; MNI Market News