Germany’s employment rate signals stabilization after COVID-19 shock: Destatis – Famagusta Gazette

0

Despite the shock of COVID-19, in 2021 the average annual number of employees in Germany remained unchanged compared to 2020 at 44.9 million, according to provisional figures published on Monday by the Federal Statistical Office (Destatis). .

“However, developments differed significantly between different economic sectors in 2021,” Destatis said in a statement.

The largest employment gains were recorded in public services, education and health (2.2%) and in information and communications (2.4%). The trade, transport and hospitality sectors, on the other hand, suffered significant job losses (minus 1.8%) after a decline of 2.1% in 2020.

“Very positive contributions came again from construction,” said Destatis, which recorded a 1.2% increase in employment, showing that “the good situation in the construction industry continues”.

In 2020, the COVID-19 crisis halted an upward trend in employment in Germany, which had lasted for more than 14 years and had resulted in a decrease of 370,000 people.

In the meantime, the growth prospects of the German labor market have deteriorated due to demographic developments. “The offsetting effect on this development caused by higher labor force participation of the domestic population and immigration of foreign labor is diminishing,” Destatis noted.

Last week, the Institute for Employment Research (IAB) said that unemployment in Germany would increase slightly again over the next few months. “The Omicron variant continues to prolong the coronavirus crisis. This is particularly critical for long-term unemployment,” said Enzo Weber, head of the IAB’s research department on macroeconomic forecasting and analysis.

Share.

Comments are closed.