According to a study carried out by the Institute of Economic Research in Cologne (IW) published on October 22, 2007, the lack of skilled workforce in technical fields is already slowing German growth down. Over 230.000 posts have remained vacant in 2006 or found someone only belatedly. This shortage cost the German economy 18.5 million euros, that is 0.8% of its gross domestic product. (Ref. 070899)
According to the study, ordered by the Federal Department for Economy, three companies out of ten had trouble finding enough skilled staff in 2006. The most concerned sectors are those which traditionally play an important part in Germany’s competitiveness: mechanical engineering, automotive sector, metallurgy and electronics. Generally, Germany does not suffer from a global shortage in skilled workforce, but it is specifically felt in some sectors. Consequently, Germany is in desperate need of
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