German firms show caution in hiring amid economic uncertainties: ifo

This trend of cautious personnel planning is largely driven by a shortfall in orders, prompting companies across various sectors to reevaluate their recruitment strategies. Notably, the manufacturing sector, particularly those industries that are energy-intensive, is planning to scale back on recruitment and even reduce its existing workforce due to the economic pressures.

Similarly, the trade sector is also showing signs of a shift toward a smaller workforce. This aligns with the broader trend observed across other sectors, highlighting a potentially challenging period ahead for job growth in Germany, as per the ifo Institute.

ALCHEMPro News Desk (DP)