Germany loses 30 billion EUR due to lack of staff - Finance and Markets

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Germany loses more than 30 billion EUR due to lack of staff. If companies were able to fill all vacancies with specialists, the German economy would grow even more – and with strong growth. The lack of qualified staff shrinks German economic growth by up to 0.9% per year. This is clear from a study by the Institute of German Economy.
According to the analysis, the corporate Germany needs about 440,000 specialists. If they are hired, economic output in Germany could be 30 billion EUR higher, the survey shows. The difficult and often unsuccessful search for skilled employees is an important cause of low business investment.
In fact, the shortage of skilled workers is now at the top of the list of worries in many companies.
A recent survey conducted by the German Chamber of Industry and Commerce (DIHK) among 24,000 companies revealed that 60% of all companies estimate the shortage of skilled workers as the biggest business risk. Eight years ago this share was only 16%.
This trend can be strengthened over the coming years. According to estimates by the Basel Prognos Research Institute in 2030, Germany may have a shortage of up to 3 million skilled workers – even if 200,000 skilled workers are in the country every year.