Companies due to crisis yet – but in these sectors there is hope

Given the massive economic consequences of the Corona-crisis, German companies continue to expect declining employee numbers. The Ifo employment barometer rose

BUSINESS
28 May 2020 Thursday 18:27
36
Kristen Rainey

Companies due to crisis yet – but in these sectors there is hope

Given the massive economic consequences of the Corona-crisis, German companies continue to expect declining employee numbers. The Ifo employment barometer rose in may to a rate of 86.3 points in the previous month to 88.3 points, as the Munich-based research Institute announced on Wednesday. Despite this increase, the number of layoffs will exceed the settings, but more. "Unemployment in Germany is thus on the increase," said the Ifo.

"In most industries, there will continue to be more layoffs,"

The Institute evaluates for the employment barometer on a monthly basis, around 9,000 responses from firms in Manufacturing, construction, industry, Wholesale and retail trade and the service sector to employment planning for the next three months. In April, the employment barometer fell to a historic Low.

In may, it was able to recover in three of the four sectors again. Only in the industry, more companies reported again by falling employee numbers. Most significantly, the rise of the barometer in the service sector, directly followed by the trade. "In most industries, but there are still more redundancies," said the research Institute. "In retail, it seems to hit the dealer with clothes and fashion."

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bright spots of the economic and tax advisors, and auditors - who want to employ more personnel are, therefore, at the moment. The same is true for the food retail trade as well as the Bicycle dealer. The latter, according to the Ifo Institute, a "high repair-demand". Tell us about your experience in the Corona-crisis

workers or currently unemployed and not enough money are short? Tell us about your experiences by E-Mail with the subject "short-time work and Hartz IV" to meine-frage@focus.de.

The IG Metall Union warned about a massive increase in unemployment in the auto industry. "Those who work for the manufacturers themselves, we have secured through collective agreements quite well. In danger of those who work for subcontractors are above all," said IG-metal-Chef Jörg Hofmann the Newspapers of the editorial network, Germany (Wednesday editions). "About ten percent of the firms in our industries are already threatened acute insolvency. The hits more than 100,000 Employees, which could quickly fall in unemployment."

The automotive industry is considered to be a problem child

At the same time, the trade Union leader stressed the importance of the automotive industry for Germany as a business location. "Every fourth Euro of industrial value-added depend on this industry directly," said Hofmann. "Stumble not, the auto industry, then whole regions collapse economically completely. We must not allow that."

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Need a buyer's premium for cars that had to be involved in a recovery program for all industries is therefore. Three conditions are, according to Hofmann, is crucial: "The buying premium makes a significant contribution to the reduction of CO2 emissions, it is connected with the reduction of short-time work and job security, and must therefore reach the 90 per cent of the workforce in the industry, working on vehicles with internal combustion drive." Thirdly, the IG Metall expect a strong contribution of the automotive manufacturer. "Under these conditions, we say Yes to the purchase premium."

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