Germany: job vacancies at all-time high in 2022

On March 9th, the Institute for Employment Research (IAB) reported the latest figures on job vacancies in the construction industry for Germany. In the 4th quarter of 2022, 191.000 open jobs were reported by German construction companies and craftsmen / workshops. In comparison to the fourth quarter in 2021, the number of job vacancies increased by +16,3 %. For the year 2022 in total, 187.000 open job were reported on average which is an all-time high. As the figure shows, the number of vacancies in the construction industry increased constantly during the last years.

 

Due to the demographic development in Germany, the situation is likely to worsen in the upcoming years: in a few years the BabyBoomer cohort, who form the biggest age group among the working population, will retire. As a result, the capacities in most sectors will be much lower than today. The construction industry has to act now by investing in the training of young people and by strengthening innovative serial / pre-fab construction methods.

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