Employment growth was slightly below the average, at 16%
All figures are much below the
average for the other metropolitan areas. In contrast, employment growth was
slightly below the average, at 16%. At the same time, a large number of
employees in Stuttgart are graduates.
According to the Federal Employment
Agency, graduates made up c. 30% of all regular employees who are subject to
social security contributions. Munich is the only metropolitan area where this
share is higher, at 32%. Frankfurt ranks third, at 27%, and in other metropolitan
areas the share is below 25%.
In addition, the share of university graduates
among all employees is rising in Stuttgart, which means that the city is probably
enjoying above-average employment growth in terms of quality. Despite the
favourable labour-market development, construction activity has been subdued
due to the city’s location in a basin. Neither the number of annual permits nor
the number of annual completions amounted to more than 1% of existing
residential units during the cycle. Supply looks set to remain limited in the long
run, too.
While the construction of an underground railway station (“Stuttgart
21”) will free up more than 100 hectares in the city centre for new projects, these
plots will not be available until the middle of the next decade at the earliest.
EU Forecast
euf:ba.18.j:169/nws-01