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Germany Faces $85 Billion Hit as Labor Shortages Intensify


L.A.T.1961
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Recent surveys found a record 50% of firms are cutting output due to staffing problems, and it’s costing the economy as much as $85 billion per year. 

“More and more companies are cutting back on their business because there just aren’t enough workers,” said Stefan Sauer, a labor market expert at the Ifo Institute in Munich. “In the medium and long term, this problem is likely to get even worse.”

The labor shortage is magnifying the pressure. With workers in high demand and inflation jumping to 10.9% last month -- the fastest rate since the euro was introduced more than 20 years ago.

https://www.bloomberg.com/news/articles/2022-10-17/germany-s-yawning-labor-shortage-squeezes-struggling-industry

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AIRBUS has a manufacturing footprint in my hometown - Mobile, AL.  We've had apprenticeships and other training programs underway for years due to the need for skilled labor.  Hopefully, some of those jobs will come down here :) 

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