Few German companies are looking to hire additional staff, according to the latest Employment Barometer from the Institute for Economic Research (Ifo).

The index fell to 105.4 in November 2014, down from 106.9 in October 2014, and down from 107.9 in November 2013.

The barometer for the manufacturing sector remained at a low level, and as indicated last month, there is nothing at present to indicate that an improvement in hiring sentiment will happen soon. There was no net increase in hiring in the transport and logistics sector, and although construction firms have continued to recruit, the pace has slowed compared with last month.

The willingness of companies in the services sector to hire fell to its lowest level since October 2013, but remains positive. 

While the Employment Barometer registered a decrease in November, the Ifo Business Climate Index rose to 104.7 points during the month, up from 103.2 in October 2014. Therefore, business expectations have brightened with regard to the next few month months, which could subsequently have a positive impact on hiring sentiment moving forward.