Major cities and
metropolitan areas should also benefit from internal migration to dynamic labour
At present, the City of Frankfurt’s official population projections for the
period until 2020 expect the number of residents to increase by 40,000 to
764,000 – with current projections of a long-term increase to as much as
830,000 by 2040.
Together with the growing number of residents and a dynamic
economic environment, the number of people working in Frankfurt has also risen
by almost 12% since 2009. In 2014 almost 600,000 people were employed in
Frankfurt, more than half of whom were commuters.
Almost 90% are employed
in the services sector, of which more than 10% in the financial sector and just
under 10% in manufacturing. In recent years employment growth has been
strongest in manufacturing and weakest in the financial sector. Compared to
other major German cities, Frankfurt has particularly low unemployment rates
(total unemployment, youth unemployment and unemployment among foreign
nationals), whereby – unusually for a major city – the youth and foreign national
employment rate is below the national average.
Frankfurt’s migrants possibly
have an above-average education, which would also explain the relatively high
and increasing proportion of people with academic qualifications working in the