October 22, 2021

Fewer people in Germany on shortened hours for second month: Ifo – Reuters

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BERLIN (Reuters) – The number of people in Germany on short-time work has fallen for the second month running, to 5.6 million, the Ifo research institute said on Thursday, in the latest sign that economic activity is resuming after coronavirus-induced lockdowns.

But Ifo’s headline estimate masked considerable variation between sectors. The number of people on reduced hours – with their lost pay compensated by the state – declined in services, retail, the metals industry and in autos, but continued to rise in tool-building and electronics.

“The fall in numbers has accelerated overall, but in some sectors numbers on short-time work are continuing to increase,” Ifo’s labour market expert Sebastian Link said.

Reporting by Thomas Escritt; Editing by Maria Sheahan

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