German Economy Recovers as Skilled Labor Shortage Deepens

Germany’s economy is showing signs of recovery after recording growth for three consecutive quarters, yet one in four companies is struggling to find qualified workers.

The Munich-based ifo Institute has published the results of its latest business survey. The share of companies reporting a shortage of skilled workers rose from 21.1% to 23.2% in April.

📌 Which sectors are facing growing shortages of skilled workers?

🎈 In the telecommunications sector, the share of companies reporting a skilled labor shortage nearly doubled, rising from 16.3% to 31.1%.

🎈 In legal and tax advisory services and auditing, the figure increased from 52.4% to 64.7%.

🎈 In manufacturing, the shortage rose by 4.5 percentage points to 18.7%.

🎈 In construction, nearly one in three companies (32.6%) reported difficulties finding qualified workers.

Source: Reuters, AFP / DA, TY, DW