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German companies face critical staff shortages - Handelsblatt

Europe / Business and Finance
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The German economy lacks not only wood, steel or computer chips, but also people. Only in the 30 largest companies in Germany, the labor shortage is estimated at 14,000 people.

German companies face critical staff shortages - Handelsblatt

According to a Handelsblatt survey, DAX 30 companies alone currently have nearly 14,000 vacancies - especially in demand for skilled workers. DAX 30 includes shares of BMW, Siemens, Adidas and Deutsche Bank.

In the German edition note that the labor shortage is so great that it could impede economic growth or economic recovery.

Employees with knowledge of IT, technology and data are especially in demand.

“The revival of the industrial sector, the heart of the German economy, is evident. As a result, the need for qualified specialists is on the rise, ”says Bert Rürup, Chief Economist at Handelsblatt. “As the economic recovery in many companies goes hand in hand with the technological revolution towards the digitalization and use of AI, there is often a particularly shortage of skilled personnel in these areas.”

German journalists note that the economies of the United States and Russia are facing a labor shortage after the pandemic, which, after record unemployment, are now unable to find employees for a simple job. At the same time, Handelsblatt called Russia's reaction to a labor shortage questionable. There they disapproved of the idea of ​​using the labor of Russian prisoners on large construction sites, gold mines and where migrant workers used to do hard work.

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