A chronic and much-discussed shortage of skilled workers in Germany has eased slightly in recent months as the weak economy slowed hiring, according to a new survey of German company executives released on Wednesday.
Less than 34% of companies reported finding too few qualified workers, down from 35% in April, according to the most recent business survey from the Munich-based ifo Institute, a leading German economic think tank.
"The weakening economy is currently also reducing the demand for skilled workers," said ifo expert Klaus Wohlrabe.
In industry, one in four companies reported staffing problems, as did the retail and construction sectors.
Service providers are more affected by staffing shortages. In logistics, almost two-thirds of companies are looking for suitable applicants.
Temporary employment agencies, legal and tax consultants and auditors all reported similar challenges in finding qualified workers for open positions.
The German economy is shrinking, with gross domestic product (GDP) down by 0.1% in the second quarter of 2024. The number of unemployed rose to 2.8 million in July.
According to the Federal Employment Agency, the number of job vacancies fell to 703,000.
Wohlrabe, however, warned that demographic changes in Germany - where the population is growing older and the proportion of working-age people is shrinking - mean the shortage of skilled workers will be permanent and intensify again in the future.
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