All this has the potential to significantly affect the German economy, Assessing the speed and intensity of structural adjustment is difficult. [23] The current tightness of the labour market in part still reflects the fallout of the pandemic. Hiring slowed down during the pandemic and is now picking up. This slowdown has exacerbated the scarcity of skilled workers and the high number of vacancies.
A larger-scale process of reallocation from energy-intensive sectors towards less energy-intensive sectors would hardly be visible in the data yet. As regards financial markets, energy-intensive sectors tend, on average, not to report weaker profitability or tighter financing conditions than firms in other sectors.