Germany’s ifo employment barometer has fallen to its lowest level since 2020 due to ongoing economic weakness, signaling a decline in hiring intentions among businesses. In October, the index dropped to 93.7 points, reflecting a cautious approach to staff recruitment, particularly in the industrial sector, which is struggling with a challenging order situation. The unemployment rate remains unchanged at 6.0%, with concerns over maintaining living standards rising, especially among lower-income groups. Although experts predict continued economic stagnation, the Bundesbank does not foresee a broad recession for this year.

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