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The real question would be: Did BMW go on a massive hiring spree in 2021-2022 like most US companies did? If not, then the comparison doesn't make any sense.
by hajile 3y ago
The real question would be: Did BMW go on a massive hiring spree in 2021-2022 like most US companies did?
If not, then the comparison doesn't make any sense.
- Arnt 3y agoSorry about any misunderstanding. I tried to say that "badly hit" seems exaggerated. Roughly stable and staying stable seems more correct.
- KingOfCoders 3y agoNo they didn't, Germany has been hit by rising natural gas costs more than other Western countries due to sanctions on one hand and dropping exports (Germany was by far EUs largest exporter to Russia) on the other hand. Cost rises are mostly due to primary energy usage not electricity though. With dropping demand and rising inflation, Germany has a bad economy (just as bad as the UK, but due to different reasons, the UKs main driver is Brexit). Third, in a crisis Germans spend (even) less money for longer, while people in the US earlier overspend their credit limits. Which boosts the US economy, especially after a recession it growths earlier and faster. Because of the bad economy BMW and other companies in Germany did not hire as many people as the US did (also compare US to German labor laws as a reason why Germany is well behind the curve when it gets to economy growth).