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Ifo Employment Barometer - Results of the Ifo Business Survey for September 2014

German Companies Are Slightly More Cautious About Recruiting

German firms are slightly less willing to recruit new staff. The Ifo Employment Barometer fell to 106.0 index points in September, after 107.0 points in August. Last month’s slightly positive employment dynamic is nevertheless expected to continue.

In manufacturing the employment barometer rose again after three successive declines. However, no large-scale recruitment is to be expected. Willingness to recruit fell in both retailing and wholesaling. In construction, on the other hand, contractors are looking for new staff. In the service sector willingness to recruit edged down from last month’s high level, but the branch is still continuing to look for new staff.


Ifo Employment Barometer for Germany (Index value, 2005 = 100, seasonally adjusted)
  09/13 10/13 11/13 12/13 01/14 02/14 03/14 04/14 05/14 06/14 07/14 08/14 09/14
Index 106.5 106.1 107.8 107.5 107.0 108.0 107.4 107.4 106.9 106.0 106.0 107.0 106.0
Source: Ifo Business Survey


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.


Dr. Klaus Wohlrabe

Ifo Institute
Ifo Center for Business Cycle Analysis and Surveys
Phone: +49(0)89/9224-1229
Fax: +49(0)89/9224-1463
Email: wohlrabe @

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