Germany's skilled labor shortage to reach 723 thousand in 2029
According to a study by the German Economic Institute, Germany's skilled labor shortage will increase by 47 percent.
According to a recent study published by the German Economic Institute, Germany's skilled labor shortage will experience a major increase in the coming years, rising to 723 thousand people by 2029.
Research Results and Increase Rate
Stating that there was a shortage of 370 thousand skilled workers in the country last year, the study clearly emphasized that the process of finding skilled workers will become even more difficult in the coming years.
Expected Shortages by Sector
The IW study estimated that in 2029, the retail sector will need 39,100 skilled workers, but employees with these qualifications will not be found.
It was noted that in the same year, there will be a shortage of 15,000 skilled workers in the construction sector, 15,900 in the automotive sector, and 13,800 in the field of electrical engineering.
Social Services and Healthcare Sector
It was reported that there will be a need for 29,900 skilled workers in childcare, 23,600 in social services and pedagogy, and 18,700 in nursing.
Reasons for Pessimism Regarding the Future
According to the study, more people retiring each year, a decrease in young people entering the workforce, and declining birth rates constitute the three most important reasons for pessimism about the future.
The Importance of Immigration Policy
The institute conveyed that unless more immigrants come to Germany, the skilled worker shortage will grow much larger than anticipated.