Germany is enjoying a growth spurt that has legs: The European Central Bank’s monetary policy remains accommodative and the next German government will have a €30 billion to €60 billion surplus to spend, adding further economic stimulus. But the biggest economy in Europe is also a ticking demographic time bomb: Germany’s median age is now 47, compared with 40 in the U.K. and 38 in the United States. And the number of Germans approaching retirement is growing strongly. [...]
Job openings, of which there are currently a record 780,000, have been difficult to fill in some professions, such as in engineering, software and health care. Unions are adding to the shortage. The metalworkers union IG Metall is demanding work time reductions instead of hefty wage increases. Employers, already struggling to fill jobs, have roundly rejected such demands, which may well lead to the first strike in the sector in 15 years. [...]
In theory, moving to Germany has become easier for highly educated workers from outside the EU since the country loosened its immigration laws. What are deemed to be “worker shortage jobs,” as defined by Germany’s state employment agency, are also open to migrants from outside the EU who have completed apprenticeship-type training. [...]
Chancellor Angela Merkel’s party has long struggled to accept the reality that Germany is a “country of immigration.” Some 18.5 million people in the country either were born without German citizenship, or have at least one parent who was born without German citizenship. German language, culture and bureaucracy also represent hurdles for many would-be immigrants. Unsurprisingly, Germany attracted just 40,000 “qualified” workers (those with a degree or apprenticeship) from outside the EU in 2016.
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