German employment barometer inches towards highest-possible reading: study

BERLIN, March 27 (Xinhua) -- Employment prospects in Germany could hardly be any better, a study published on Tuesday by the Institute for Employment Research (IAB), the research institute of the Federal Employment Agency has found.

The reading for the closely-watched IAB monthly employment barometer rose to 108.1 points in March, inching close to the maximum obtainable reading of 110 points under the Nuremberg-based institute's survey methodology.

"2018 will most likely be a record year for the German labor market," a statement by IAB expert Enzo Weber read.

Weber expressed optimism that full employment in Germany was now "realistic in the mid-term future", but noted that more unemployed people would have to benefit from the record number of job vacancies in order for meeting the ambitious goal.

The government therefore has to ensure that jobseekers can obtain necessary qualifications, participate in intensive coaching, and be placed effectively by local agencies.

A simultaneous rise in the IAB unemployment barometer to 102.7 points further underscored optimism about the development of the German labor market on Tuesday. The Nuremburg researchers highlighted a falling trend in staff layoffs and applications for welfare benefits in this context.

The IAB's twin labor market barometers are based on monthly surveys conducted among local Federal Employment Agency offices across Germany. Enditem