Germany is no longer what it used to be - Industrial employment lowest in 10 years
Employment in Germany's industrial sector has fallen to its lowest level in ten years as companies increasingly choose not to replace workers who leave, according to a study commissioned by the Bertelsmann Foundation.
From the analysis conducted by the IW Economic Institute, it results that German industry currently has around 6.6 million employees, while its participation in total employment has fallen to 19 percent, from 22 percent in 2014. Researchers emphasize that the decline is not being caused by mass layoffs, but by the significant slowdown in new hiring.
Until 2019, the pace of staff hiring and leaving had been almost parallel. However, since then a gap has emerged, as the number of new recruitments has fallen much faster than existing employment relationships are ending.
According to experts, the decline in employment is a warning signal for future trends in the labor market. They believe that the industry needs a revival of labor demand and more dynamism in the labor market, as new commitments create opportunities for market entry, facilitate career changes and help renew the sector.
The study also shows that German industry has become less attractive to workers in recent years. The wage advantage for those starting a career in the industry, compared to other sectors, has fallen to 10.4 percent in 2024, from 20.4 percent a decade ago.
Even for workers with long experience, the wage advantage has shrunk to 8.7 percent, down from 16.5 percent a decade earlier. The best news in this analysis, however, is that the study authors say the risk of job loss in the industry remains lower than it was a decade ago.
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