Potential economic losses of 160 billion euros as a result of the disease

The results of research conducted by the VFA, an association of pharmaceutical companies in Germany, showed that the German economy is suffering huge financial losses as a result of high rates of sickness absence among workers.

The study revealed that “the sick leave rate has remained at a level much higher than average over the past four years, which has led to serious economic consequences,” confirming that employees in Germany tend to get sick more than their counterparts in other countries.

Klaus Michelsen, the federation’s leading economist, stated that the percentage of sick leave reached 5.7% last year, which is an increase of two percentage points compared to the average recorded between 2003 and 2019, according to the German news agency DPA.

Michelsen stated that even based on modest estimates, the losses in added value resulting from increased sick leave amount to about a third of a percentage point of annual economic output, and in extreme cases may reach approximately 1% annually.

Michelsen continued: “The total losses over the past four years are equivalent to up to 160 billion euros,” noting that this number does not include the financial burdens borne by health insurance companies.

Michelsen added: “With the diminishing numbers of the available workforce, the equivalent of 300,000 employees cannot be permanently laid off due to illness.”

The Federation of Pharmaceutical Companies that rely on research and development called for strengthening prevention and protection measures, such as launching large-scale influenza vaccination campaigns. Michelsen wrote: “In light of already weak growth rates, interruptions in production due to the disease constitute a heavy burden that hinders economic recovery.”