By Maria Martinez


The willingness of German companies to hire has decreased as the economy slows down and demand weakens, according to the Ifo Institute.

Ifo's employment barometer fell to 99.5 points in September from 100.9 points in August.

However, companies are still looking to hire new employees, particularly in the service sector.

"Against the backdrop of the economic recession and with a view to the shortage of skilled workers, companies are focusing above all on retaining their employees," the report said.

In manufacturing, the employment barometer dropped again in September. In the service sector, the barometer declined but continued to indicate a positive willingness to hire. In trade, businesses are continuing to suffer from poor consumer sentiment and therefore, layoffs are more likely to occur than new hires. The construction industry has also been cautious in its workforce planning due to a large number of cancellations, the Ifo Institute said.


Write to Maria Martinez at


(END) Dow Jones Newswires

September 28, 2022 04:43 ET (08:43 GMT)

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