The deficit of qualified workers in Germany is getting worse, according to the latest Business Survey conducted by the Munich-based Ifo Institute among nearly 9,000 German corporations.

The results of the poll, released on Wednesday, show that over 43% of respondents reported a deficit of skilled employees in July, up from just over 42% recorded in April. An all-time high of nearly 50% was reached in July 2022.

“Despite a sluggish economy, many companies are still desperately searching for suitable employees,” says Ifo expert Stefan Sauer.

According to the survey, the service sector has been hit particularly hard with more than 75% of legal and accounting firms not finding the applicants they need, while nearly two-thirds of companies in transportation, architecture, and engineering report a shortage of qualified workers, marking a new high for those sectors.