The latest labor market figures paint a troubling picture. In June 2024, unemployment increased by 4,000, reaching 2,727,000 people. This rise is particularly concerning as unemployment typically decreases in June. Seasonally adjusted, the unemployed grew by 19,000 compared to the previous month. Compared to June last year, there are now 172,000 more unemployed people, raising the unemployment rate to 5.8 %, an increase of 0.3 % points from the previous year. How can the simultaneous rise in unemployment and the growing shortage of skilled labor be explained, and how can companies navigate these challenges?
Skills Shortage and Unemployment are Rising Together
“Skills shortages and unemployment can increase at the same time,” explains Lydia Malin, a skilled labor expert from the Cologne Institute for Economic Research, in a report by Bild. Malin attributes this challenge to the skills gap: the qualifications of many unemployed people do not match the requirements of jobs advertised. Many lack vocational qualifications, while qualified tradespeople, educators, and social workers are in high demand.
A report by the Federal Ministry for Economic Affairs and Climate Protection highlights the urgency of this issue: “The shortage of skilled workers is increasingly becoming a brake on growth for the German economy. The health, education, and IT sectors are particularly hard hit.”
Peak Shortage of Qualified Specialists
The Federal Employment Agency reports approximately 1.57 million job vacancies in Germany, with around 700,000 registered with the German Federal Employment Agency. A survey by the Association of German Chambers of Industry and Commerce (DIHK) reveals that 53% of companies are currently affected by the skilled labor shortage, particularly in the skilled trades, where many companies struggle to fulfill orders on time.
Mechanical Engineering and Mechatronics: Highest Demand for Engineers and Innovations
In June, the engineering industry reported the highest demand among analyzed industries, with 87,354 open vacancies. Skilled labor is particularly needed in mechanical and industrial engineering (14,530) as well as in automotive engineering (11,702). Rapid technological progress and increasing digitalization necessitate new developments and specialized skilled workers in the manufacturing industry. The transition to Industry 4.0 and the intelligent networking of machines and processes also drive the current demand.
The retail industry faces significant staff shortages, particularly in sales (29,493) and distribution (7,259). High staff turnover and a lack of qualified applicants leave many jobs unfilled for extended periods, even as new jobs are continually created.
With 62,958 vacancies, the healthcare industry is in dire need of skilled labor, especially in healthcare and nursing (10,230) and geriatric care (9,069). An aging population, high workloads, insufficient training capacities, and growing demands on medical staff exacerbate this shortage.
Urgent Shortage in Key Industries
The hospitality industry reports 16,999 open vacancies, reflecting the pandemic’s impact as many skilled workers migrated to other industries. Moreover, the construction industry faces 55,198 open vacancies, for example in sanitary, heating, and air conditioning technology, driven by the need for housing and infrastructure. Logistics, with 53,244 unfilled positions, is hit hard by booming online trade and global supply chain issues.
Addressing the Skilled Labor Shortage: Data-Driven Job Advertising
In this challenging landscape, innovative solutions for strategic and targeted job advertising are crucial to attract qualified professionals, whether they are actively seeking new opportunities or currently employed and requiring a special approach.
VONQ optimizes talent acquisition from every angle. Data-driven job postings enable companies and recruitment agencies to make informed decisions about the best media channels and job boards, using intelligent automation to maximize reach and targeting. With an integrated system, personalized contacts, and additional services such as employer branding and performance marketing, VONQ provides the tools companies need to achieve recruitment goals quickly and effectively, investing their budget strategically.
Optimizing Your Talent Acquisition Strategy with Precision
Utilize VONQ’s innovative solutions to optimize your job advertisements and find the right specialists for your company. Whether you are seeking skilled workers in healthcare, trade, or other key sectors, VONQ can help you attract the right talent and fill your vacancies. Discover how your business can navigate the challenge – contact us for expert solutions today!
