Survey of employment agencies: the downward trend in the labour market stopped largely

The German labour market is likely to have the most serious effects of the Corona-crisis only once. After unemployment had risen in April and may, strong, had already in June, only comparatively little.

Britta Beeger

editor in the economy.

A on Tuesday published a survey conducted by the Nuremberg Institute for labour market and occupational research (IAB) under all of the employment agencies in Germany indicates that it will not come in the coming months to further significant deteriorations. "The negative trend on the labour market seems to be largely stopped. The work of the agencies expect that the Coarsest is for the time being managed,“ said Enzo Weber, head of the competent Research Department at IAB.

The early indicator of the Institute is based on two components. For one, it is a forecast about the development of the seasonally adjusted unemployment figures for each of the next three months. This component jumped in July, as strong as never before since the beginning of the data series in the year 2008: 3.7 points to 97.7. This is on the scale from 90 to 110, although, as before, a comparatively low level. It means, however, that the unemployment is only expected to rise considerably. On the other, the indicator gives a prediction of the development of employment. It also climbed sharply to 98 points.

"We're not done yet"

For the further development of the labour market risks exist but, as before, for example when the infection happened again, was to tighten up, said Weber. Also for the operative business of the German Federal employment Agency, the competent Board of Directors Daniel third Bach had emphasised in an Interview with F. A. Z. last: "We're not done yet." According to his statements, the authority prepares for a potential wave of insolvencies in the autumn. The Figures were inconspicuous, because companies have to make a special statutory scheme until the end of September, no application for insolvency. "But we prepare for the case, and schools our employees in the employment agencies for the processing of applications for insolvency money."