German skills shortages

German skills shortages 2007-08-22

Germany losing 20 billion a year due to skills shortages

According to an Economy Minister's report that has just been released, Germany's skills shortages have resulted in a loss of "double-digit" billions of euros per year to the German economy. The report estimates that up to 1% of the gross domestic product is lost due to skill shortages. For 2007, this could exceed ?20 billion, according to report. German politicians have been pushing companies to hire women and older workers, as well as foreigners already living in Germany. Businesses are not happy with the government's response to the skills shortage problem and is advocating a more open approach toward immigration.