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ifo: German Employment Barometer Improves in August

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Companies in Germany are planning fewer layoffs in August as the country's labor market shows "a slight upward trend," according to ifo Institute on Thursday.

The ifo Employment Barometer climbed to 94.8 points from 93 points in the previous month, with the manufacturing sector indicator reaching the highest since March 2024.

Among manufacturers, companies involved in the production of data processing equipment and electronic and optical products are planning to hire more employees, alongside businesses in the food industry. On the other hand, job cuts remain to "predominate" in the wholesale and retail sectors, while workforce expansion and reduction are balanced in the service industry.

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