Job vacancies in Germany hit an all-time high in the last three months of 2017, data showed on Tuesday, underlining the strength of a labour market that is pushing up wages and fuelling a consumer-led upswing in Europe's biggest economy. Vacancies surged by 85,000 on the quarter and by 128,000 on the year to reach 1.18 million in the fourth quarter, a survey by the IAB labour office research institute found.
There were 918,000 vacancies in the former West Germany and 265,000 in East Germany, according to the survey that was based on replies of about 15,000 employers from all economic sectors. Manufacturing firms posted 161,000 vacancies, up 35 percent on the year, while construction companies reported 98,000 vacancies, a 24 percent rise, the data showed.
An index measuring the ratio between unemployment and job vacancies fell to 2.0 which was also the lowest on record. Germany's jobless total fell more than expected in February while employment hit a record high in January, data showed last week.
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