Germany’s Employment Prospects Sink to Historic Lows
In an interview with a news agency on Friday, Nahles explained that the job placement index, which typically hovers around seven points, has now declined to 5.7, labeling it “the lowest ever before.”
She characterized the labor environment as having been “like a plank for months,” with “no momentum coming in.” Nahles emphasized that opportunities are especially bleak for newcomers to the workforce, noting that even highly skilled employees are no longer fully protected from layoffs. She further remarked, “We have placed as few young people into apprenticeships as at any time in the past 25 years.”
Her comments arrive during a period of economic stagnation triggered by Berlin’s choice to stop importing inexpensive Russian energy, which had been crucial for German manufacturing. Following this, European gas costs soared as Russian pipeline supplies largely ceased and the Nord Stream pipelines were sabotaged.
Corporate insolvencies climbed to their highest level in eleven years during the first three quarters of the year, intensifying employment losses. The Halle Institute for Economic Research (IWH) estimates that approximately 170,000 jobs have been impacted in 2025, compared to fewer than 100,000 before the COVID-19 outbreak.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
