German companies are becoming increasingly reluctant to hire new staff, the Ifo Institute said.
The institute’s employment barometer fell to 103.3 points in June from 104 points in May.
However, the demand for labor remains high and the shortage of skilled workers remains a major problem for German companies, Ifo said.
In manufacturing, the employment barometer was reduced marginally, according to Ifo.
While the electrical and electronics sector is still looking to hire new staff, the chemical industry has stopped hiring for the time being.
Among service providers, the index also declined, although demand for new staff remains high in all sectors.
Also, trade and construction, stressed that they do not plan to hire new staff.
Source: Capital
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