German workers on short-time down 35% in August - Ifo
Reuters
Published Sep 03, 2021 02:14AM ET
BERLIN (Reuters) - The number of employees put on reduced working hours in job protection schemes in Germany fell by 35% in August, the economic institute Ifo said on Friday, as recovery in Europe's largest economy continues.
The number of people on the short-time work scheme, also known as Kurzarbeit, fell to 688,000 in August, down from 1.06 million in July, the Munich-based institute said.
"This is the first time since the start of the coronavirus crisis that the number of people on short-time work has been below one million," Ifo survey expert Stefan Sauer said.
Ifo said nearly all sectors of the economy reported a decline in August. The hospitality industry, one of the most hit by COVID-19 lockdown, was also recovering but still had 10% of its employees on shorter hours, it added.
Earlier this week, the Labour Office said the number of people out of work fell by 53,000 in seasonally adjusted terms to 2.538 million.
The seasonally-adjusted jobless rate fell to 5.5%, the lowest since March 2020, when Germany entered its first coronavirus lockdown.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.