Despite the war in Ukraine, prospects on the German labor market continued to improve in April.
The labor market barometer of the Institute for Labor Market and Occupational Research (IAB) in Nuremberg rose by 0.9 points compared to the previous month to 106.1 points - it had only reached a higher level in summer 2021.
It is the fourth increase in a row.
"The general upward trend on the labor market and the corona recovery are currently strong enough to override the dampening effects resulting from the economic consequences of the Ukraine war," said the head of the IAB research department for forecasts and macroeconomic analyses, Enzo Weber, on Thursday.
Affected companies could cushion delivery and order failures with short-time work.
However, there are major risks with regard to a geopolitical spread of the crisis or an energy supply stop.
The labor market barometer has been in existence since November 2008. It is based on a monthly survey of all German employment agencies on their expectations of employment and unemployment for the next three months.
A value of 100 reflects a neutral situation, 90 corresponds to a very bad development, 110 to a very good one.