Compared to the previous month, the leading indicator rose by 0,8 points to a new value of 94,6 points, the institute said on Tuesday. Overall, however, that is still a low value.
"The expectations of the employment agencies are slowly brightening again," said Enzo Weber, head of the IAB research area "Forecasts and macroeconomic analyzes". While leading indicators for future development rose again, the labor market development itself had not yet bottomed out. With an increase from 1,1 points to 93,8 points, the unemployment component of the IAB labor market barometer is still well below the neutral mark of 100. This also applies to the employment component, which rose by 0,4 points in June 95,3 , XNUMX points reached. This means that further deterioration in unemployment and employment can be expected in the short term, says Weber. However, the pace slowed. "In view of the worst recession in post-war history, the labor market development remains comparatively robust, also due to short-time work." The challenge lies in a sustainable turnaround: "The job market must be brought out of the crisis before bad job opportunities lead to permanent disadvantages for the unemployed and young professionals." The IAB labor market barometer is an early indicator based on a monthly survey by the Federal Employment Agency among all local employment agencies.