News from 2022-12-27 / KfW Research
KfW-ifo Skilled Labour Barometer December 2022
Half of German businesses are already competing for skilled workers
According to the new KfW-ifo Skilled Labour Barometer, skills shortages were affecting operations at 46% of businesses at the start of the fourth quarter. The shortage of skilled labour has further increased since the previous year despite the Ukraine crisis. Skilled workers are missing in all sectors of the economy, especially in services industries, where nearly half of enterprises are hampered by a lack of skilled labour. Job openings are now vacant for an average of five months and recruitment times are becoming much longer. One of the causes for this is the weak growth of labour productivity. In the past five years, labour productivity per person employed has nearly stagnated.