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Hardly any Effects Expected by Labor Market Opening

Business › Economy ♦ Published: March 4, 2011; 02:24 ♦ (Vindobona)

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As of May 1, 2011, the citizens of the countries which joined the EU in 2004 will be able to work in Austria without any restrictions. The effects should be kept within certain limits.

Hardly any Effects Expected by Labor Market Opening / Picture: © Wikimedia Commons / Alfred T. Palmer [Public Domain]

The coming opening of the labor market will bring little change to the domestic labor market. In the short term, less qualified workers might expect a higher pressure, which should be noticeable by temporarily higher unemployment rates in this area. Lower wage growth may also occur for workers with low technical skills.

Better educated workers should benefit, however. There is…