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The latest ifo Business Survey, published on August 16, 2023, shows an increase in the shortage of skilled workers in German companies. The survey was conducted among approximately 9,000 companies from various industries throughout Germany. The results make it clear that more and more companies are having difficulty finding qualified workers. This trend is considered a cause for concern by experts, as it continues despite the current economic challenges.
Increasing shortage of skilled workers despite economic uncertainty
According to the results of the survey, a total of 43.1% of companies surveyed in July 2023 reported suffering from shortages of qualified workers. This represents a slight increase compared to the 42.2% in April 2023. One interesting aspect is that this increase was recorded despite a weakening economy. This trend illustrates that finding suitable employees remains a high priority for many companies.
Sector-specific challenges
The service sector is particularly affected by this shortage of skilled workers. In areas such as legal and tax consulting as well as auditing, 75.3% of the companies surveyed stated that they could not find enough applicants* with the required qualifications. Also the traffic range as well as architecture and engineer's offices are strongly concerned, whereby here even a new high level for these industries was reached.
In the area of IT equipment manufacturers, 43.1% of the companies surveyed are affected by a shortage of skilled workers, while in mechanical engineering the figure is 40.9%. In the manufacturing sector as a whole, the proportion has decreased slightly to 34.6%. In trade and construction, slightly less than one-third of companies complain about a shortage of qualified workers.
Outlook and conclusions
The continuing difficulty in finding qualified workers, despite economic uncertainty, raises questions about the future of the German economy. Experts stress that this shortage of skilled workers could hamper growth and innovation in the long term. Companies are increasingly being called upon to find creative solutions to meet their need for qualified employees. This could include investing in targeted education and training programs, promoting career paths in affected industries, and using technology to optimize work processes.
Overall, the Ifo Business Survey shows that the shortage of skilled workers in Germany continues to be a serious concern for companies in various industries. This requires a coordinated effort by business, educational institutions and government to address this challenge and ensure the competitiveness of the German economy in the long term.