Hays Skilled Manpower Index Demand for Engineers Grows Despite Economic Downturn

The economic slowdown has no impact on the labour market for skilled workers. Demand for engineers even picked up significantly by the end of the first quarter of this year. This is shown by the evaluation of the job market in the first quarter on behalf of Hays.

Although the economic data show a downward trend, the labour market for skilled workers remained strong and continues to grow. In the last quarter, the Hays Skilled Manpower Index rose by a further 6 points compared with the previous quarter to a new record value of 161. Compared with the first quarter of the previous year, it rose by 7 index points.

Above all, the demand for engineers and finance experts rose across all sectors by 10 points to 151 and 164 index points respectively in the last quarter. Demand for IT specialists was somewhat weaker, rising by 3 index points to 175.

The index also reflects the high demand for new buildings: demand for skilled workers from the construction industry rose by 36 points to the new index value of 210. Demand for skilled workers from the IT industry also increased significantly. Here, the number of job offers across all departments rose by 23 points, reaching the new index value of 206.

The demand for skilled workers also increased significantly among public administrations. Here the index rose by 25 points to 217. In all three sectors mentioned - construction, IT and the public sector - the number of job vacancies more than doubled within four years.

"The labour market for skilled workers has decoupled itself more strongly from economic indicators in recent quarters: companies are preventing the imminent withdrawal of baby boomers from working life and are therefore hiring additional staff. In addition, they need specialists in various fields for their digital conversion. For these reasons, demand remains stable," says Dirk Hahn, member of the Hays AG board of directors, commenting on the current specialist index.

The Hays Skilled Manpower Index is based on a quarterly evaluation of the index Internet und Mediaforschung GmbH for Hays. Job advertisements from the most frequented online job exchanges, daily newspapers and the Xing business network are included. The reference value of 100 is the first quarter of 2015. To simplify readability, only the masculine form is used for the position designations, even if the ads are aimed equally at men and women.