Germany's hiring outlook dims further in March: ifo

Companies in Germany are scaling back hiring plans and continuing to cut jobs, according to the latest data from the ifo Institute. The ifo Employment Barometer dropped to 92.7 points in March, down from 93.0 points in February.

The industrial sector remains the hardest hit, with job cuts now a near-constant trend for almost two years. While the retail sector saw a slight uptick in the barometer, many businesses still plan to reduce their workforce, ifo said in a release.

“The situation on the labour market remains difficult. Unemployment will probably continue to rise slightly,” said Klaus Wohlrabe, head of surveys at ifo.

ALCHEMPro News Desk (HU)