1.98 million jobs were vacant in Germany at the end of 2022. The vast majority of these could be filled immediately, according to the Institute for Employment Research.
The number of job vacancies in Germany rose to a peak of 1.98 million in the fourth quarter of 2022. This was announced by the Institute for Employment Research (IAB). “The demand for personnel in Germany has reached a new all-time high with around two million vacancies,” said IAB labor market researcher Alexander Kubis. “The vast majority of vacancies can be filled immediately, and company competition for suitable personnel is high in many cases.”
About 1.63 million jobs were available to fill immediately and another 352,500 jobs later, according to the IAB
Compared to the summer quarter of 2022, the number of job openings increased by about 160,900, or 8.8 percent. There was an increase of 295,500, or 17.5 percent, from the fourth quarter of 2021. The economy has been suffering from a shortage of skilled workers for years. According to experts, it will intensify in the future due to the aging of society despite the expected digitization.
Four times a year, the IAB examines the total number of jobs available in Germany – including those that are not reported to the employment agencies. In the fourth quarter of 2022, responses were available from around 14,000 employers in all sectors of the economy.
Source: Zeit Online, Reuters, jsp – 03.09.2023: Zeit Online
Why the number of job vacancies is rising and what it means for foreign workforces
There can be various reasons why the number of job vacancies is rising, such as an increase in economic growth, an expansion in certain industries or sectors, a shift in consumer demand, or a shortage of skilled workers.
One factor that may contribute to the rise in job vacancies is the ongoing COVID-19 pandemic. The pandemic has disrupted the labor market, causing some industries to experience a surge in demand for workers (e.g., healthcare, logistics, and e-commerce), while others have been hit hard and have had to lay off employees. Additionally, the pandemic has created a supply shock in the labor market, with some workers being unable or unwilling to work due to health concerns, family responsibilities, or pandemic-related financial support.
The increase in job vacancies may also have implications for foreign workforces.
On the one hand, it may present opportunities for foreign workers to fill the gaps in the labor market, especially in industries or sectors where there is a shortage of domestic talent. On the other hand, it may also lead to more competition for jobs, as more workers, including foreign ones, may apply for the same positions. This could potentially drive down wages and working conditions, particularly if there is an oversupply of labor in certain industries or sectors.
It is also worth noting that the availability of jobs for foreign workers may be influenced by government policies, such as changes to immigration laws or restrictions on foreign labor. Therefore, it is important to consider both the economic and political factors that may affect the job market and the opportunities available for foreign workers. Find more about open positions and how to apply for them in our blog categories!