Slight dip in the Ifo employment barometer

This is the press release from Ifo Institute's employment barometer

German businesses have become somewhat more cautious in their recruitment efforts. The ifo Employment Barometer fell to 102.9 points in February after 103.0 points in January. Despite the cooling in the economy, the German labor market remains stable. The number of employees will continue to rise.

Distribution and manufacturing were responsible for the decline in the employment barometer. In these sectors, momentum has weakened in recent months. The share of companies intending to hire new employees has declined steadily. By contrast, the employment barometer has risen in construction and in the services, also in the longer-term perspective. On average over the last three years, employment growth has increased continuously.