Monday 30th November 2020
In the partial lockdown in November, the proportion of companies with short-time work increased again for the first time in months. It rose from 24.8 percent in October to 28.0 percent in November, as the Munich Ifo Institute announced on the basis of surveys. Especially in hotels, restaurants and pubs as well as travel agencies and tour operators, ie the sectors particularly affected by the partial lockdown, “a lot of short-time work will be implemented again”, explained Ifo labor market expert Sebastian Link.
According to Ifo surveys, the proportion of hotels rose to 91 percent of companies, in gastronomy to almost 72 percent, and for travel agencies and tour operators to 91 percent. The increase in short-time work in November can therefore be observed in almost all major economic sectors. The proportion of short-time working among service providers rose from 24 percent in October to almost 31 percent for companies in November. In trade, the share climbed from 18.8 to 20.7 percent and in construction from 7.4 to 9.0 percent.
Only in industry was there a slight decline, from 31.9 to 30.5 percent, as the Ifo announced. Individual sectors also reported sharp declines, for example the automotive industry from 50 to 36.7 percent, the publishing industry from 42 to 34.7 percent or the placement and leasing of workers from 64.2 to 52.5 percent of companies. The results are based on an additional question about the current short-time work in the monthly economic survey of the Ifo Institute. It evaluated reports from around 7,000 companies.