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German industry expects an increase in the number of workers transferred to part-time work. This follows from the results of a survey that the Ifo Economic Research Institute presented on Thursday, July 4th. According to them, 8.5 percent of the total number of German companies in the processing industry plan to switch to part-time work in the next three months. This is the highest figure since 2013.
At the end of 2017, part-time work was planned for a record low number of processing enterprises (0.4%). Since then, this figure has grown almost continuously, reaching 2.6 percent in the summer of 2018.
"The weakening of economic growth is starting to affect the labor market," said Timo Wollmershäuser, Head of ifo's department for market forecasts, commenting on the results of the study. According to him, the German industry has been in recession since the middle of 2018, and part-time work is one of the options for preserving jobs in difficult economic times.
Almost 44 thousand people have switched to part-time work
According to the Federal Labor Agency, in April 2019, the transition to part-time work affected almost 44 thousand people, which is more than three times higher than in April 2018 (13 thousand people). The newspaper Süddeutsche Zeitung reports that in February 2019, 44.5 thousand people received additional payments from the state in connection with the transfer to part-time work.
In addition, according to ifo, German companies in the processing industry are planning to lay off more people in the next three months than to hire.
source: dw.de
At the end of 2017, part-time work was planned for a record low number of processing enterprises (0.4%). Since then, this figure has grown almost continuously, reaching 2.6 percent in the summer of 2018.
"The weakening of economic growth is starting to affect the labor market," said Timo Wollmershäuser, Head of ifo's department for market forecasts, commenting on the results of the study. According to him, the German industry has been in recession since the middle of 2018, and part-time work is one of the options for preserving jobs in difficult economic times.
Almost 44 thousand people have switched to part-time work
According to the Federal Labor Agency, in April 2019, the transition to part-time work affected almost 44 thousand people, which is more than three times higher than in April 2018 (13 thousand people). The newspaper Süddeutsche Zeitung reports that in February 2019, 44.5 thousand people received additional payments from the state in connection with the transfer to part-time work.
In addition, according to ifo, German companies in the processing industry are planning to lay off more people in the next three months than to hire.
source: dw.de
