Survey results from the renowned think tank, ifo, revealed a boost in hiring confidence among German companies this month, fueled by an improved economic outlook. The ifo Employment Barometer – a key indicator of employment market trends – rose to 96.3 points in March, up from 94.9 points in February.”The enhanced ability of firms to navigate the economic landscape is increasing their willingness to hire,” said Klaus Wohlrabe, Head of Surveys at ifo, adding, “The demand for skilled workers remains strong.”Despite this overall optimism, job cuts were still anticipated in manufacturing and trading sectors, as highlighted in the ifo survey. Wohlrabe pointed out an upward trend in real wages, which instills retail sector with the hope of revived consumer spending – a vibe that’s resonating in their staffing strategy.The service sector marked an upward trend in the indicator as tourism-related firms plan on bringing more staff onboard. Conversely, the ongoing crisis in the construction industry continues to weigh down on hiring intentions, pushing companies towards layoffs indicates the ifo study.The material has been provided by InstaForex Company – www.instaforex.com
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