News from 2018-11-04 / KfW Research

Many job openings, few job seekers: SMEs expect a shortage of skilled workers

Two thirds of SMEs planning to hire skilled workers in the next three years expect to face recruitment difficulties. That is significantly more than in 2014. A worrying trend is that the causes of the problem are clearly shifting towards a skills shortage. SMEs are increasingly concerned about not finding suitable candidates in the occupations needed. Other causes, such as lack of additional qualifications or excessively high wage demands, are fading into the background. Labour force participation rates, skilled migration and continuing education investment should (continue to) rise in order to prevent skills shortages.

Many job openings, few job seekers: SMEs expect a shortage of skilled workers

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Economic Research

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Economic development in Germany and around the world, studies on topics relevant to society such as environmental and climate protection, demography, globalisation, innovation and sustainability, impact of KfW promotional programmes.