Highlights: Germany requires an annual cap of 288,000 foreign workers till 2040
- Germany is looking for an annual net migration of 288,000 annually until 2040.
- According to the Bertelsmann Stiftung report, the country is seeking skilled workers to address its labor force shortage.
- The demand for skilled foreign workers could increase to 368,000 if workforce participation is met.
- The German government is taking measures to increase the workforce of women and older people in the country.
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Germany looking to retain skilled foreign talent
Germany is looking to hire skilled foreign talent, aiming for a net migration of 288,000 annually. The country is looking to welcome 288,000 foreign skilled workers every year until 2040. The demand may rise to 368,000 if the domestic workforce participation rate is not fulfilled. Germany's aging population is one of the driving factors behind the country's labor force shortage.
According to a recent Bertelsmann Stiftung report, Germany is keen on admitting and retaining foreigners to stabilize its labor force. The current demand for 288,000 workers has exceeded the annual inflow during the early 2000s. The retiring aging population in Germany could affect the labor pool, drastically slowing down the country's economic growth.
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What are the measures taken by the German Government to deal with the workforce shortage?
The aging population in Germany is set to retire, leading to reduced and slower economic growth. The German government is making efforts to deal with the country's workforce shortage.
Some of the measures taken by Germany to address the workforce shortage in the country are as follows:
- Efforts are being made to increase labor participation among women and older people already living in the country.
- Germany plans to invite 22,000 more migrant workers in 2024 in addition to the existing 200,000 cap.
- German citizenship was granted to 100,000 individuals in 2023, an increase of 81,007 compared to the previous year.
- The country has introduced the German Opportunity Card, which allows non-EU professionals to enter Germany and look for employment for up to 12 months.
- Germany granted 69,353 EU Blue Cards to skilled workers in 2023, the highest among EU countries.
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