Austria: Black Labor Costs € 3.5bn Per Year

Politics ♦ Published: November 12, 2012; 20:07 ♦ (Vindobona)

The economist Friedrich Schneider explains that the size of black labor comes at € 19.6bn per year in Austria.

Austria: Black Labor Costs € 3.5bn Per Year / Picture: © Vindobona.org

According to Schneider (Johannes Kepler University Linz), black labor comes at 7.7% of Austria´s GDP. Schneider suggests that low-income earners should have to opportunity to work without being taxed and without losing their social benefits. The limit should come at € 5,000 per year and per household, Schneider says.

However, black labor is not a real problem for an economy,…

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