Saxony Trade & Invest - Labor Market

IT'S ALL ABOUT PEOPLE

...replied the CEO of the chip giant AMD when he stated the reasons in 1996 why his company had made a major investment at the business venue Saxony (today: GLOBALFOUNDRIES Fab 1). The working people are Saxony’s greatest asset. Because – Saxons are exceptionally bright. And their superb training and education are paired with great commitment.

Chart: Qualification of the workforce - International Comparison (short version)

SAXONY HAS THE BRIGHTEST MINDS

In Saxony, the qualification level of the working population aged between 25 and 64 is higher then in Germany and most of the EU an OECD countries. 94 percent of the Saxons have earned at least a university entrance diploma or have completed vocational training. – For example, the OECD average amounts to "only" 80 percent.

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FACTS: POPULATION

On June30, 2022, a total of 4,080,036 inhabitants lived in the Federal State of Saxony. According to the State Statistical Office, this were 37,034 more persons than at the end of 2021.

Since 2011, Saxony has been able to exhibit migration gains. In 2021, a total of 18,827 more persons moved to the Federal State of Saxony than the number of people who left it. The migration gains from abroad which amounted to 15,617 persons were further supplemented by the people who moved to Saxony from other parts of Germany which exceeded the number of people who actually left the Federal State by 3.210 persons.

FACTS: GAINFULLY EMPLOYED PERSONS / EMPLOYEES SUBJECT TO MANDATORY SOCIAL INSURANCE CONTRIBUTIONS

In 2016, an average number of 2.033 million gainfully employed persons (including commuters and self-employed persons) had their workplace in the Federal State of Saxony.

In December 2015, Saxony recorded about 1.52 million employees who were subject to mandatory social insurance contributions (excluding self-employed persons and persons in marginal employment).

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FACTS: UNEMPLOYMENT

The annual average unemployment rate in 2022 amounted to 5.6 percent (basis: all gainfully employed civil persons).

SAXONY IS NOT A LOW-WAGE STATE

...in fact, nobody would really expect anything else from a location in Germany. Saxony’s employees are superbly qualified and highly motivated. They add a lot of experience and commitment to their workplace. This has to go along with an adequate income level.

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LABOR MARKET FUNDING

If new employees are to be optimally qualified or long-term employees of a company are to be prepared for new tasks and duties, then the Federal State of Saxony and the Federal Employment Agency (BA) provide diverse funding options. For example, also when it comes to the employment of unemployed persons or the recruitment of R&D staff.

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Your Contact Person

Andreas Lippert

Investor Services

Phone: +49 (351) 2138-211 Fax: +49 (351) 2138-219

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