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Northern Germany's Services Industry Is Booming: 37,000 New Jobs

Creditreform Hamburg and the AGA industry association presented their joint survey "DiNo 2014". Hamburg is top in the north. IT is fastest growing sector

The result of the study: The companies active in the service sector recorded a surprisingly good year in 2014, and are generally feeling quite optimistic about 2015. “Once again, the service sector in Northern Germany has proven to be a powerful driver of growth for Germany. In 2014, more than 37,000 new jobs were created, even though companies initially only predicted 26,000. Next year will see another 22,500 new jobs added. Business-related service providers thus continue to write a success story for the North.” With these words, Nikolaus von der Decken, managing director Creditreform Hamburg, and Dr. Hans Fabian Kruse, president of the AGA industry association, recently presented the results of their joint survey “DiNo 2014” on the landscape and situation of service providers in Germany’s north.

Almost One in Three Companies To Hire New Staff

Since January 2014, the Northern German services providers increased employment by 2.6 per cent (2013: 2.0 per cent). 31 per cent of companies hired new staff (2013: 29 percent), 59 per cent kept personnel figures unchanged, (2013: 61 per cent), and only ten per cent of companies downsized staff figures (2012: ten per cent). Fastest growing sector was the information technology with a growth in employment of 4.7 per cent, followed by marketing/media with an increase of four per cent.

Further Growth Anticipated In 2015

For next year, employment figures are expected to rise by 1.4 per cent, with IT (+3.8 per cent) once again showing the highest growth in recruitment. In total, 20 per cent of companies declared to hire new employees in 2015. 75 per cent of companies predict no changes at all, and only five per cent consider reducing staff figures.

Industry Is Booming

The DiNo indicator that summarises the assessment of the current and expected future revenue and profit situation, increased by two points to 129. The turnover in the sector improved by 2.9 per cent in 2014 (2012: 2.5 percent). For 2015, the service sector expects a growth in sales of 2.4 per cent in the north.

“The service providers correspond very flexible to changing markets and fully exploit their potential. This marks the strength of this important economic sector”, states Nicholas von der Decken, managing director Creditreform Hamburg.

Hamburg Is Top In The North

In the current year, the services providers of the Hanseatic city reported a four per cent increase in sales (2013: 2.8 per cent. For next year, the companies expect sales to grow by another 3.2 per cent, with profits increasing by 1.4 per cent. Hamburg thus boast the best figures in Germany’s north. Also, staff will be more substantially increased in the coming year than elsewhere, with 2.5 per cent more hirings after this year’s 3.5 per cent. In absolute figures, this corresponds to 12,500 new jobs in 2014 and about 8,500 positions n the 2015.

The DiNo Survey

Conducted in October 2014, more than 1,000 companies participated in the survey. They form a representative sample of the 167,518 enterprises active in the service sector of Northern Germany, and their 1.47 million employees. The annual turnover of the booming sector totals around 185.2 billion euro.

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