450.000 jobs likely to be created in the service industry

The recent report on the situation of the German service industry filed by the Association of German Chambers of Commerce and Industry (DIHK) presents impressing figures and confirms the close correlation between order intake, investment and labour market. The current business climate is the best in 15 years, says Martin Wansleben who is the DIHK managing director. The DIHK forecasts 450.000 additional jobs in the service sector alone.

The reason for this development is the current export boom which is to the advantage of service providers to companies. According to Mr. Wansleben it is “also remarkable that services to private persons such as those provided by leasing companies, private teaching, cinemas and gyms also have their share of the current dynamic economic development. Apart from a booming export, service providers expect that domestic demand will also gain further momentum in 2007.”

According to the DIHK, the optimistic business situation is also clearly reflected by the service industry labour market: The DIHK forecasts a strong increase in the generation of jobs, in particular as far as IT services, advertisement industry, security service providers, temporary work agencies and the fields of transport and logistics are concerned.

At the same time, however, these branches often in vain look for suitable staff. The DIHK therefore demands less barriers to foreign graduates at German universities in order to gain access to the German labour market, given that these people master the German language and are already well integrated.

The service industry report 2007 for the compilation of which about 10.000 companies were interviewed is available online. GERMAN