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    German job vacancies rise as labour market recovers from pandemic

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Berlin, Nov. 3, 2020 (dpa/Naija247news) Job vacancies in Germany climbed during the third quarter as the labour market in Europe’s biggest economy rebounded from a sharp contraction during the first wave of the global COVID-19 pandemic.

    The number of vacancies rose by almost 5 per cent to 934,000, the Institute for Employment Research (IAB) said on Tuesday, while noting that the Coronavirus crisis was still having an impact on hiring.

    The increase represents 41,000 more than in the second quarter, the Nuremberg-based institute said.

    The data followed last month’s release of figures by the Federal Employment Agency showing a sharp fall in seasonally adjusted unemployment in October.

    Germany’s jobless rate currently stands at 6.2 per cent.

    “Many companies have been reluctant to recruit staff since the beginning of the coronavirus crisis,” said IAB Labour Market Researcher, Alexander Kubis.

    “Uncertainty about the further course of the pandemic is also having a negative impact on companies’ hiring behaviour,” Kubis said.

    Underlining the impact of the crisis on the jobs market, the institute said there were 426,000 fewer vacancies than in the same period in 2019.

    This represented a drop of 31 per cent.

    The IAB’s third-quarter data, which was based on a survey of 8,500 employers from across the nation, was also drawn up before a new partial lockdown was launched on Monday, the impact of which is likely to emerge in the fourth quarter.

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