Germany Faces Skilled Labor Shortage
Germany Faces Skilled Labor Shortage

Germany Faces Skilled Labor Shortage

Germany Faces Skilled Labor Shortage

Labor shortages are threatening to undermine Germany’s economic recovery as companies struggle to fill around 1.6 million vacancies, the DIHK Chambers of Industry and Commerce said on Tuesday, Reuters reported. Germany’s labor market has gone from strength to strength, with the jobless total falling more than expected in February and employment hitting a record high in January, fuelling a consumer-led upswing. But the unusually long growth cycle in Europe’s biggest economy, now in its ninth year, combined with a long-signaled shortage of people of working age mean that German firms are running out of suitable staff. “A growing number of German companies are facing bottlenecks in skilled labor and this is becoming a challenge for the entire economy,” DIHK’s deputy managing director Achim Dercks said. In light of Germany’s rapidly aging society, he called on the government to expand vocational training and attract more skilled workers from abroad. A DIHK survey of some 24,000 companies showed nearly every second one is unable to find suitable candidates for job vacancies over a longer period and six out of 10 managers see the lack of qualified staff as a threat to their business.


Short URL : https://goo.gl/1YTqPh
  1. https://goo.gl/voi7HK
  • https://goo.gl/1BkWdc
  • https://goo.gl/2QUYPZ
  • https://goo.gl/5vg3cT
  • https://goo.gl/iEbsdd

You can also read ...

Indonesia’s interest rate rise highlights need for urgent defensive action.
Argentina's return to financial chaos might seem remote to...
Pakistan Retains Stable Rating
Moody’s Investors Service said that Pakistan’s (B3 stable)...
Japan April Exports Accelerate
Japan’s exports accelerated in April on increased shipments of...
Real growth of the oil sector was  14.77% year-on-year in Q1.
Nigeria’s economy expanded for a fourth straight quarter in...
Bruno Le Maire
The stability of the eurozone will be at stake if a populist...
Chan Chun Sing (L) and CEO of the Singapore Business Federation Ho Meng Kit,  at The Business Times Leaders Forum on Monday.
With the rise in unilateralism and protectionism, the...
Goldman Says US in Dire Straits
Goldman Sachs’ analysts delivered a weekend note on the United...
Taiwan Economic Sentiment Weakens
Sentiment toward Taiwan’s economy weakened in May after the...

Add new comment

Read our comment policy before posting your viewpoints