Germany is projected to face a labor shortage of approximately 4.3 million workers by 2036.
According to the German Economic Institute, as reported by Rheinische Post, the institute has revised its earlier forecasts negatively.
Two years ago, the gap between retiring baby boomers and new entrants to the labor market was estimated at around 2 million. New calculations suggest this gap could reach 4.3 million by 2036.
Experts attribute this to an aging population, declining migrant inflows, and demographic regression. Slowing economic growth is also reducing migrants' interest in moving to Germany.
