Experts: German Labor Market Will Be Recovering for Two to Three Years

It will take the German labor market up to three years to recover from the pandemic crisis. This opinion was expressed by Detlef Scheele, head of the Federal Agency for Labor (BA), in Nuremberg in an interview with dpa, which the agency published on Wednesday 22 July.

« The return to normal indicators will certainly last until 2022 or 2023, » he stressed. “Nevertheless, we believe that it is possible,” he added.

In Germany, about 2.85 million people are out of work, of which almost 640 thousand have lost their jobs as a result of the consequences of the pandemic. Schele assumes that the numbers will only get worse in the summer due to seasonal specifics. However, according to current estimates, the 3 million limit will not be exceeded in July and August. At the same time, the expert made a reservation that the current crisis is not caused by opportunistic or structural considerations.

In this regard, the head of the Federal Labor Agency believes that recovery can take place after the accompanying factors change. By itself, « the labor market is in good shape, » says Detlef Schele. The part-time strategy chosen by a number of companies is working, « at the moment we see no signs of a large wave of layoffs, » he said. The specialist did not separately touch upon the situation in gastronomy or with the downtime of cultural institutions.

At the same time, the head of BA noted that in a number of professions there is even a shortage of personnel – this is primarily in the field of caring for the sick and the elderly.

source: dw.de

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