Ifo Report: German Industry Lost Nearly 500,000 Jobs Since 2019

Nearly half a million jobs have been shed in German manufacturing since 2019 amid mounting competitive pressures, according to the Ifo economic institute.

German industry has lost nearly half a million jobs since 2019, according to new figures published today by the Ifo economic research institute, as reported by Daily Sabah and Yahoo Finance.

According to the reports, the wave of job losses has affected hundreds of thousands of workers across Germany's manufacturing sector. Manufacturers in the country have faced mounting competitive pressure in recent years, weighing heavily on industrial activity.

More detailed data regarding specific industry sectors and potential response measures from the government in Berlin have not yet been released.