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Ifo: German Employment Barometer Deteriorates in April

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-- More German businesses are planning layoffs instead of additions to their staff in April owing to geopolitical uncertainty, ifo Institute said Wednesday.

The ifo employment barometer dropped monthly to 91.3 points from 93.4 points, the lowest level since May 2020.

Hardly any industry sector remains unaffected by job cuts, the institute said, noting that wholesale and retail companies are also downsizing. Meanwhile, the indicator for service businesses plunged to its lowest level since the start of the COVID-19 pandemic.

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