The Economist Template (revised, September 14, 2022)
You should use this template for all Economist assignments going forward (Econ #5-#8)
Title of Article: There are not enough Germans to do the jobs Germany needs
Date of Issue: 10/6/22
Focal Country/Countries (Not the U.S): Germany
Synopsis, takeaways, and key question. After reading your chosen article:
1. Write a brief synopsis of the article, from start to finish with enough detail to indicate a
thorough reading. (2 points)
This Economist article talks about the severe labor shortage that Germany is currently facing
as a result of the looming European recession and Russian-Ukrainian War. The Institute for
Employment Research, a German government agency, has estimated that job vacancies in
Germany are currently at a record 1.93m, which is 66% more than last year. This recession can
be mostly attributed to Russia’s energy squeeze causing a European energy crisis. As a result, the
article talks about how Germany needs to make significant changes to participation rates,
retirement dates, and immigration to prevent the German workforce from shrinking. Also,
Germany needs immigrant workers in order to maintain their workforce and continue supporting
Germany’s economy.
2. Identify one key takeaway from the article that you want to remember and explain why
you want to remember it. (5 points)
3. Of all the things you are curious about after reading the article, what is the one probing
question you have. Explain why you are curious about this question. (5 points)
One key takeaway from this article that I want to remember is the fact that for every 100
workers aged 60-64 who are about to retire, there are 82 workers aged 20-24 who are about to
start their careers. This statistic alone is alarming since it indicates how Germany’s workforce is
rapidly shrinking due to its large retiring population and dwindling number of new workers. I
want to remember this takeaway because it demonstrates how baby boomer cycles can have
significant impacts on a country’s economy and knowing this concept can help give me a better
understanding on how population fluctuations can affect economies of other countries. Of all the
things I am curious about after reading this article, I wonder why Germany’s immigration laws
are so strict to the point where foreign workers face difficult hurdles that prevent them from
joining Germany’s workforce? I am curious about this question because the article talks about
how no major changes have been made to streamline the already strict immigration process to
encourage immigrants to work in Germany, which doesn’t make much sense considering the fact
that Germany’s workforce is shedding approximately 350,000 to 400,000 people a year. I am
really curious about if no changes are being madedue to political, economic, or sociocultural
reasons.
Format: Two paragraphs. The first paragraph should be your synopsis. The second paragraph
should identify and explain your key takeaway and probing question. Do not use bullet points.