The Ifo Institute's employment barometer fell to 91.3 points in April, the lowest since December last year. Companies plan more layoffs than hires, especially in industry and trade. Ifo's Klaus Wohlrabe warns of ongoing pressure on the job market.
Berlin. Germany's job market worsened markedly in April. The Ifo Institute's employment barometer, calculated for Handelsblatt, dropped to 91.3 points—the lowest since December last year.
Klaus Wohlrabe, head of Ifo surveys, told Handelsblatt: "The pressure on the job market is noticeably increasing. Many companies are responding with intensified staff cuts." New hires are the exception, he added. Without more planning certainty, he sees no recovery soon.
The indicator stood above 93 points from January to March. Readings below 100 mean more firms plan layoffs than hires. The survey draws from about 9,500 monthly reports on employment plans for the next three months.
Industry saw the sharpest decline, down 20 points. Trade fares similarly poorly, while services holds up relatively better.
