The slow-down in the economy is now having an effect on the labour market. According to the Institute for Research on the Labour Market (IAB), in the second quarter of 2008 the number of vacancies fell by 15.000 to currently 1.13 million as compared to the first quarter. This is 100.000 vacancies less than in the second quarter of 2007.
In spite of this decrease labour demand is currently still very high according to the IAB. The number of vacancies which could immediately be filled has even slightly increased to 874.000. The percentage of these vacancies amounts to 78% which is 4% more than in the first quarter this year and a plus of 9% in comparison with the second quarter in 2007. However, the number of vacancies which are not to be staffed immediately has been declining over the past three quarters. In the medium term the number of vacancies is presumably going to continue falling, according to the experts from the IAB.
Even though the development of employment is still expected to be positive over the entire year 2008, the increases are said to be smaller this year than last year.
Four times a year the IAB records all vacancies, i.e. even those which are not reported to work agencies. The findings of the latest study are available for download from the internet.