International comparison of the German labor market: Good prospects {Trend! study}

The German labor market has developed better than before since the financial crisis. Overall, the index developed by Glassdoor Economic Research shows a positive trend for all of Europe, albeit with large differences when compared with other countries.

European countries in comparison

The study is intended to help job seekers to get an idea of ​​the design and change of the employment situation in the individual countries of Europe. Indicators for this are the labor market conditions in the various countries. This includes, for example, the employment rate and average salaries. Even if the euro countries are developing well overall, there are gradations within the individual nations clear.

The labor market index was developed by Glassdoor Economic Research in cooperation with Llewellyn Consulting and describes 18 European and US labor markets. He shows the pace at which this is happening growth of the national labor markets since the 2007 financial crisis compared to the historical average. In addition, the most recent growth changes within the last six months are also analyzed. The labor market index is made up of a total of 10 indicators, including the unemployment rate, the rate of vacancies and salary levels.

Glassdoor's International Labor Market Index shows that Greece, Portugal and Spain have been the best performing labor markets since the global financial crisis and measured against their own historical average. However, these southern European countries still have a long way to go before they even get back to their pre-recession levels. Despite the positive trends, it is currently still difficult for job seekers in these countries to find a job and a good one salary to achieve.

Germany overall with positive trend

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On the whole, the current development of the labor market in Germany is positive: assuming the high level in the European comparison, it not only develops well, but also with increasing speed. The index shows that in the period of the last nine years - and thus since the beginning of the financial crisis - the growth of the German labor market has developed faster than in the previous period. For example, things are different in Norway and Switzerland: Here, for example, the growth rate is significantly below the historical average.

The following graph shows which labor markets are improving or deteriorating as a function of the historical average development. An index value above zero means that the labor market conditions are developing faster than was the case on average in the past. Accordingly, a negative index value means that the labor market conditions do not develop as well as one might expect based on historical experience. The higher the index value, the higher the degree of improvement in labor market conditions compared to historical development.

German labor market continues to gain momentum in the latest half-year comparison

Glassdoor's international labor market index shows not only the development of labor market conditions, measured against the historical average, but also the most recent changes over the last six months for which the labor market data is available. The data shows that the upward trend in Germany is continuing in the current period: The positive The development of the labor market has continued to accelerate in the last half-year comparison, albeit only more so light.

In the following figure, the same factors as in the first graph are included, this time only a shorter and more current time frame. It shows the change in the labor market index per country in the second half of the year 2015 in relation to the first half year. Here again, the German labor market can score points, the top half of the half-year comparison being Finland, followed by France and Norway. The most negative trend is currently seen in Switzerland. However, the starting level on the Swiss labor market is generally very high.

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