Shortage of skilled workers: companies have to wait

AEmployers now need an average of five months to fill a vacancy. The number of vacancies has risen sharply over the past decade, according to economic research institute Ifo and development bank KfW in their specialist barometer for the fourth quarter of 2022, released this week. For the study, 9,000 companies are surveyed once a quarter. According to this report, nearly half of companies (46 percent) now say a shortage of skilled workers is hampering their business. The shortages are more serious in the service sector – many people currently feel this in their daily lives, when services, for example from craftsmen or in the catering sector, slow down due to staff shortages. The current study sharply warns against “structural demographic change of historical dimensions”. The number of native-born people of working age will shrink by 9 million by 2040 and the number of retirees will increase by 5 million. But this October, the number of vacancies reported to the Federal Employment Agency hit a new record. And half of the current unemployed are not sufficiently qualified for almost 80% of vacancies.