Nuremberg: economy “on a path to success” – the new assessment of the city gives hope despite the war and the pandemic

The Department of Economics and Science has published the evaluation “Nuremberg as a company headquarters – Positioning 2022”. As the city of Nuremberg explains, the annual online brochure provides an up-to-date overview of the most important data and indicators on the business location and provides information on how Nuremberg is developing and how it positions itself in the competition between business locations.

Nuremberg economics consultant Dr. Michael Fraas: “Although Corona continues to have an impact, especially in the service sector, Nuremberg as a business location is clearly on the path to success. The number of employees is increasing, unemployment is falling and the number of vacancies is now even above the pre-crisis level. This is also a sign of the high resilience of our headquarters. However, the challenges remain great: the transformation of the automotive industry, problems with supply chains, the chip crisis and rising energy prices. The war in Ukraine is also having a significant impact on our economy. “

After a brief decline in the number of employees due to the corona virus, a clear countermovement occurred in 2021, according to the assessment. With 312,129 employees (as of June 2021), nearly as many people in the Nuremberg city area had a job subject to social security contributions as before the Crown crisis. Compared to the previous year, Nuremberg’s economy grew by 3,035 employees.

In December 2019, just before the pandemic, the unemployment rate was 4.9%, the lowest level in 28 years. In 2020, the rate increased. Meanwhile, the number has dropped almost to the pre-crisis level. As of December 2021, 15,991 people were registered as unemployed in Nuremberg, which corresponds to an unemployment rate of 5.3% and a decrease in unemployment of 14.4% compared to the previous year. In a national comparison of large cities with more than 350,000 inhabitants, Nuremberg has an “excellent location” and has the third lowest unemployment rate after Munich and Stuttgart.

At the end of 2021, the employment agency of the city of Nuremberg had reported 6,914 job vacancies subject to social security contributions to be filled. This is 42.2% more jobs compared to the peak of the crisis in 2020 and 5.6% more than in the pre-crisis year of 2019.

A disproportionately high gross domestic product (GDP) is generated in Nuremberg. Although Nuremberg is the 14th largest city in Germany in terms of population, it ranks ninth among the 20 largest German cities with a GDP of € 32.3 billion. Adjusted to size from a per capita perspective, Nuremberg ranks 7th among the 20 largest German cities with generated production of over € 62,000 per inhabitant.

The manufacturing industry is of great importance to Nuremberg. 14.5 percent of all Nuremberg employees work in manufacturing companies. In a comparison of the 20 largest German cities, Nuremberg is above average and belongs to the third top.

Nuremberg’s share of employees in knowledge-intensive industrial sectors in the total number of employees in manufacturing is well above average. In urban areas, over 69% of manufacturing employees work in knowledge-intensive sectors. In other large German cities, this share is on average 61%, in Germany around 45%.

10.5 percent of all Nuremberg employees work in forward-looking sectors of the information and communication industry (ICT). In a comparison of major German cities, Nuremberg shares one of the top spots with Munich and Bonn.

The brochure “Nuremberg as business location – position determination 2022” with further information and graphically processed data is available for download at https://www.nuernberg.de/internet/wirtschaft/positionsdetermination.html.

Leave a Comment