Many jobs disappeared
German industry produces a lot less, according to figures from the German statistics agency Destatis for August. Especially the production of cars, the largest industrial branch in Germany, declined considerably.
German industry yielded 4.3 percent less in August than in July. That is the biggest fall since March 2022, when Russia had just invaded Ukraine. Germany has since been struggling with, among other things, increasing energy costs. Car production even shrunk by 18.5 percent compared to a month earlier. This is partly due to closures of factories during the holiday period. Changes in car production also play a role.
It can also play a role that Germany quickly exported cars to the United States before the higher import tax entered. The export may therefore have dried up in August. German suppliers to the car industry notice that there is less demand. Research agency EY reported at the end of August that more than 51,000 jobs in the German car sector have disappeared in one year.
Many jobs disappear at Ford and Volkswagen, among others. The large car supplier Bosch recently scraped 13,000 jobs in Germany. Many people also lost their jobs with other suppliers, such as ZF Friedrichshafen and Continental.
Many Jobs Disappeared
German Industry is Producing Considerably Less, Accordination to Figures from the German Statistical Office Destatis For August. In particular, The Production of Cars, Germany’s Largest Industrial sector, Fell Sharply.
German industry Delivered 4.3 percent less in August than in July. That is the Biggest Fall Since March 2022, when Russia had Just Invaded Ukraine. Since then, Germany Has Been Struggling with, Among Other Things, Increased Energy Costs. Car Production Even Shrank by 18.5 percent Compared to a Month Earlier. This is Partly Due to Factory Closures Delivery the Holiday Period. Changes in Car Production also play a Role.
It may also play a role that germany previously exported cars to the united States Quickly Before the Higher Import Duty Came Into Effect. As a result, exports may have three -up in August. German suppliers to the automotive industry are noticing that there is less demand. Research Agency Ey Reported at the End of August That More Than 51,000 jobs in the German Automotive Sector Have Disappeared in A Year.
Many Jobs Are Disappeaering at Ford and Volkswagen, Among Others. The Large Automotive Supplier Bosch Recently Cut 13,000 jobs in Germany. Many People also Lost Their Jobs at Other Suppliers, Such as ZF Friedrichshafen and Continental.