Ifo Employment Barometer - Results of the Ifo Business Survey for November 2013
Employment Barometer Rises Significantly
After two successive decreases, the Ifo Employment Barometer for German industry, including the service sector, rose considerably in November. Firms in nearly all economic sectors intend to further increase their employment levels.
In manufacturing the employment barometer rose. In view of the good order situation and optimistic export outlook, manufacturers intend to increase their staff numbers slightly. In construction the index rose for the third month in succession. Despite the approaching winter firms are still looking for staff. The employment perspectives are also positive in wholesaling and retailing. The increase in the employment barometer was sharpest in the service sector. Far more service providers plan to recruit new staff than in October.
The Ifo Employment Barometer is based on ca. 9,500 monthly responses from businesses in manufacturing, construction, wholesaling, retailing and the services sector. The companies are asked to report on their employment plans for the coming three months. They can describe their plans for the number of employees for the coming six months as “increasing”, “stable”, or “decreasing”. The balance value of the plans is the difference in the percentage shares of the responses “increasing” and “decreasing”. To calculate the index value the balances are normed to the average for the year 2005.
The Ifo Employment Barometer is calculated exclusively for the Handelsblatt.