The shortage of skilled workers is one of the biggest obstacles to the growth of the German economy. This is stated in a report by the German state investment bank KfW. According to the study, 42% of companies surveyed said they were struggling with skills shortages.
These include tax advisers and legal staff, but there are also shortages of technicians and engineers in German industry. There are shortages, especially in eastern Germany. In the southwest of the country, the situation is less serious, according to KfW. Larger companies, in particular, would be hit harder than smaller companies.
Guest work
The researchers say that the shortage of skilled personnel has temporarily eased due to the cooling of the economy due to the war in Ukraine and high inflation. But the deficit will widen again as the German economy is expected to recover later this year. KfW says shortages need to be addressed by bringing in skilled workers from abroad, increasing worker productivity and putting more Germans to work.
Germany is grappling with a marked aging of the population, which is exacerbating tension on the labor market. The German government has announced measures to make it easier for skilled foreigners to come to work in the country, Europe’s largest economy.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
