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The number of vacancies in Germany fell in March, but overall demand for workers remains high, particularly in the staffing industry. This is despite the latest vacancy report by the German federal employment agency showing a year-on-year decline in job opportunities.
The report found that the job market continued to post healthy figures in March as employment levels in the country remain robust. However, companies struggle to fill vacancies in time and the economic downturn in Europe has made employers more cautious about hiring new staff.
In March, the staffing industry continued to post high demand for workers with almost every third vacancy posted by staffing firms, the report found. Other sectors to see strong demand include the retail/wholesale, health and social care, gastronomy and the public sector.
Germany has one of the lowest unemployment rates in Europe and last stood at 5.4% in February. New data from the German statistics office today shows that employment grew to 41.4 million, an increase of +0.7% from a year ago.
“The German labour market remains solid as a rock, defying the winter weather and the euro crisis,” said Carsten Brzeski, an economist at ING in Brussels. But experts have warned that the job market could stagnate in the coming months.
This comes after the German Council of Economic Experts this week lowered its economic forecast for 2013, down from a previous estimated +0.8% to +0.3%. Employment and unemployment are both expected to grow this year.