The German labor market, which is already plagued by a shortage of skilled workers, will lose seven million workers by 2035 – if countermeasures are not taken. This emerges from a study by the Nuremberg Institute for Labor Market and Occupational Research (IAB), which was published on Monday. The main reason is that many employees of the so-called baby boomer years will soon be retiring. However, the problem can be solved or at least alleviated if it is possible to increase the employment rate – for example among older people and migrants – and to make targeted immigration possible, according to the study. “By 2035, Germany will lose seven million workers due to demographic change and thus a seventh of the labor market,” said IAB researcher Enzo Weber.
Labor market – seven million missing – economy
