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Ifo Employment Barometer - Results of the Ifo Business Survey for February 2017

German Companies Marginally Less Keen to Recruit

Feb 24, 2017

German companies were marginally less keen to expand their staff bases this month, but recruitment levels nevertheless remain high. The Ifo Employment Barometer edged downwards to 110.6 points in February from 110.7 points last month. While the employment dynamic is losing impetus in the service sector, it remains strong in manufacturing.

The employment barometer rose in three out of four branches. In manufacturing willingness to recruit additional staff has been growing continuously for almost a year. The same applies to the construction sector. In distribution the barometer rose to its highest level in over a year. After recruitment drives in recent months, the service sector was the only area in which the dynamic slowed somewhat in February. 

Charts

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Time Series


Ifo Employment Barometer for Germany (Index value, 2005 = 100, seasonally adjusted)
  02/16 03/16 04/16 05/16 06/16 07/16 08/16 09/16 10/16 11/16 12/16 01/17 02/17
Index 107.9 107.5 108.3 108.3 108.1 108.2 108.7 110.1 110.7 111.1 111.8 110.7 110.6
Source: Ifo Business Survey

Ifo Employment Barometer for Germany (Balances, seasonally adjusted)
  02/16 03/16 04/16 05/16 06/16 07/16 08/16 09/16 10/16 11/16 12/16 01/17 02/17
Manufacturing -3.8 -5.0 -2.9 -1.8 -0.1 0.0 2.0 1.9 5.0 4.0 4.9 5.8 6.2
Construction 0.8 0.6 -1.0 2.7 4.4 4.3 5.2 6.4 6.9 7.7 10.0 6.6 7.1
Wholesaling and retailing 1.6 2.8 1.7 2.9 5.8 3.1 3.0 5.5 5.5 2.3 5.0 3.3 6.5
Services sector 12.9 11.8 13.9 12.8 10.4 11.3 12.2 16.4 16.8 19.5 20.7 17.4 15.9
Source: Ifo Business Survey

Legend

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.

Contact

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 @ ifo.de
Website


Short URL: www.ifo.de/w/3WAzbvvrv