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News from 2021-06-01 / KfW Research
KfW-ifo Skilled Labour Barometer June 2021
Skills shortage is growing despite lockdown – further shortages are imminent
The skills shortage continues to grow strongly in the second quarter. These are the findings of the current KfW-ifo Skilled Labour Barometer. One quarter of all businesses see their operations hampered by skills shortages, more than twice as many as a year ago. Unless further steps are taken, skills shortages can turn into a serious obstacle to growth in the coming years. Germany therefore needs a strategy to secure the supply of skills for the post-coronavirus era. In order to successfully resolve the shortage, more people must participate in the labour force, workers need to upgrade their skills and the labour productivity growth rate must be strengthened by putting in place frameworks that are more conducive to investment, innovation and digitalisation, as well as by reducing deficits in the digital and business-related infrastructure.
