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Germany loses 500k industrial jobs
The article discusses the decline of the industrial sector in Germany, which has lost around 1.5 million jobs since the beginning of 2019, particularly in the automotive, metals, and machinery sectors, with a decline rate of 7.1%, amounting to 496,000 jobs. In contrast, the services sector, including health, social affairs, and government administration, has experienced significant growth, adding over 2.2 million jobs, mainly in healthcare and elderly care, driven by the ongoing rise in the elderly population and expansion of the public sector. The report indicates a rapid structural shift that threatens Germany's future developmental capabilities, as new jobs are rarely created in sectors characterized by innovation and high productivity.
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