Shortage of qualified workers increasing in Germany
According to the latest data from the LFO Institute for Economic Research in Munich, an increasing number of companies in the European economy are experiencing a shortage of qualified personnel, and this problem is extremely serious in Germany, Bloomberg reports
In July, more than 43 percent of the approximately 9 thousand firms surveyed in Europe reported a shortage of qualified workers, compared with 42 percent in April. The record high of almost 50 percent was reached in July 2022.
"Despite a sluggish economy, many companies are still desperately searching for suitable employees," an LFO representative said in a statement.
Germany experienced a recession in the winter after energy prices and inflation rose sharply due to the start of the special military operation. According to the publication, the country has been in a state of stagnation since then. The LFO data shows that the services sector has been particularly hard hit: three quarters of legal and accounting companies cannot find the candidates they need. A record shortage of personnel is also observed in the transport industry, architecture and mechanical engineering.
