German defence industry on the rise
Order books are full and employment is climbing: labour market experts see Germany’s defence sector firmly on a growth trajectory.
Nuremberg (dpa) – Labour market researcher Enzo Weber expects a lasting boom in Germany’s defence industry. The sector’s upward trend will be sustainable and continue for many years, said the expert at the Institute for Employment Research (IAB) in Nuremberg.
With defence spending on the rise, financing is assured, according to Weber, who heads the IAB’s forecasting and macroeconomic analysis department. A study involving the IAB suggests that up to 200,000 new jobs could be created.
“It now depends on whether the money is merely spent, or whether an actual industrial renewal is achieved,” Weber said. Public funds must be used to foster competition and innovation, too, he argued, adding that
the defence sector had already been on the up for around two years, with employment rising sharply. The number of job vacancies was also increasing, he noted, with tank and air defence systems manufacturer Rheinmetall having hired some 500 new employees every month since the start of the year, for instance.