German Ifo research Institute reported the German employment barometer for November that slid to 103.5 from the previous 104.6.
German business is still recruiting, but on a smaller scale than recently. The Ifo Employment Barometer fell to 103.5 points in November from 104.6 points in October. The number of employees in Germany will continue to increase, albeit at a slower pace.
The sharpest decrease in the Employment Barometer was seen in the service sector. A growing number of service providers reported a more cautious attitude toward recruiting new staff, especially in the transport and logistics segment. The barometer decreased only slightly in trade and manufacturing, but companies in both sectors are still seeking to hire new staff. In construction, the barometer hit a new record high. Civil engineering firms, in particular, complained of a severe staff shortage.
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