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Aging Workforce Germany – 500K immigrants are needed each year study finds

The euro zone’s number one economy will need an army of immigrants to keep its economy going, a Bertelsmann study showed on Friday.

Europe’s powerhouse needs some 500,000 immigrants each year in order to stabilize its Germanylabor force and social welfare system until 2050, the newest study from think-tank Bertelsmann showed on Friday.

The study – published in German Die Welt – said that even if domestic potentials were completely exhausted and the employment of women and older people increased sharply each year, about 350,000 people still would be needed to move to the country.

Therefore, immigrants from the EU won’t be enough, the researchers warned.

Looking for immigrants

“Germany musn’t rely on continued high immigration from the EU,” Joerg Draeger, CEO of Bertelsmann Foundation, told the daily. “We must now prepare the way how to increase our attractiveness as a country of immigration for third-country nationals.”

Chosen excerpts by Job Market Monitor. Read the whole story at WBP Online – Germany Needs 500K Immigrants Each Year: Study.

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