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.