imageEconomic Indicators1 hour ago (Mar 26, 2020 08:30AM ET)

(C) Reuters. FILE PHOTO: Electric bicycle production at Riese & Mueller factory

BERLIN (Reuters) – The Ifo economic institute’s German employment barometer fell in March to its lowest level since January 2010, the Handelsblatt newspaper reported, adding that the drop is the biggest since records began in 2002.

“German companies are putting the brakes on personnel planning,” Ifo expert Klaus Wohlrabe said of the data, which the Munich institute calculates monthly for Handelsblatt based on the employment intentions of around 9,000 companies.

“A rise in unemployment will be unavoidable despite short-time work”, Wohlrabe said, referring to a government-backed scheme that allows firms to put workers on shorter hours.

German Ifo employment barometer hits lowest since January 2010

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.