German companies' hiring plans drop to four-year low, Ifo finds
BERLIN, Germany: According to new data from the Ifo Institute, hiring plans among German companies have slumped to their lowest level in over four years, reflecting ongoing economic challenges.
In October, Ifo's employment barometer dropped to 93.7 points from 94.0 in September, marking the lowest level since July 2020. Klaus Wohlrabe, head of Ifo surveys, noted a persistent decline in labor market optimism: "Th