Half of German companies face labour shortages despite economic stagnation - survey

Half of German companies are struggling to fill vacancies due to labour shortages, the DIHK Chamber of Commerce and Industry said on Wednesday, despite the stagnation of the euro zone's largest economy. "The skilled labour situation remains very critical," said Achim Dercks, DIHK's Deputy Chief Executive. According to the latest estimate, 1.8 million jobs remain unfilled in the German economy as a whole.

Half of German companies are struggling to fill vacancies due to labour shortages, the DIHK Chamber of Commerce and Industry said on Wednesday, despite the stagnation of the euro zone's largest economy. Germany, like industrialised countries around the world, is facing deep labour shortages, particularly in skilled high-growth sectors.

The proportion of companies facing difficulties hiring was slightly down from the previous survey of 22,000 companies, falling to 50% from 53% in January. "The skilled labour situation remains very critical," said Achim Dercks, DIHK's Deputy Chief Executive.

According to the latest estimate, 1.8 million jobs remain unfilled in the German economy as a whole. "This means that more than 90 billion euros in added value will be lost this year," said Dercks. "That corresponds to more than 2% of gross domestic product."

The survey showed that eight out of ten companies expect negative consequences from labour shortages. Aware of the struggle, the German government passed new legislation this year to help foreign workers establish themselves in Germany.

More than half of the companies see the recruitment of foreign labour and skilled workers as an option to secure skilled labour, the survey showed.