Sponsored Content
Labor Market
Construction Prices 2024 in Austria: Moderate Increase Despite Tense Situation in the Construction Industry
Construction prices in Austria rose moderately by 1.3% in 2024 compared to the previous year. This was announced by Statistics Austria in its latest report. While price increases eased over the year, the economic situation in the construction industry remains challenging. Residential construction in particular is suffering from high construction and financing costs, which could have a long-term impact on the labor market and future housing supply.
February 10, 2025
Labor Market in Austria 2024: Number of Vacancies Significantly Decreased
The Austrian labor market is facing an apparent contradiction: while companies are complaining about an acute shortage of skilled workers, vacancies fell significantly in 2024. Rising unemployment figures meet unfilled positions, and many industries are struggling with economic uncertainties. What is behind this development?
February 6, 2025
Skills Shortage in Vienna: Thousands of Jobs at the City of Vienna Remain Unfilled
The City of Vienna is facing a major challenge: The ongoing shortage of skilled workers and the retirement wave of the baby boomers require massive efforts to continue guaranteeing a functioning municipal administration and services of general interest. Despite extensive recruitment measures, thousands of positions are still unfilled.
January 9, 2025
KTM Facing Insolvency: Effects on Upper Austria and the Austrian Economy
The longstanding Austrian motorcycle manufacturer KTM is on the brink of collapse. The company filed applications for restructuring proceedings with self-administration with the Ried Regional Court. The company's financial difficulties are serious: with liabilities of over 1.8 billion euros, the KTM crisis is one of the biggest insolvencies in the history of Austrian industry.
December 2, 2024
Record Number of Company Bankruptcies in Vienna Burdens Economy and Labor Market
In Vienna, more than 1,100 companies filed for insolvency between January and September 2024, with the real estate sector particularly hard hit. This development contributes to rising unemployment, which has increased by 8.8% compared to the previous year. Experts blame the rise in the poor global economic situation, high inflation, and increased energy and rental costs. The increase is particularly worrying for retail and service companies, as shown by the example of Pepco, which has affected over 600 employees.
October 21, 2024
Economic Outlook in Austria: High Inflation and Stagnation Until 2026
The Austrian Institute of Economic Research (WIFO) has published a comprehensive analysis of economic development and inflation forecasts for Austria, covering the years 2024 to 2028. The study shows that Austria will continue to struggle with high inflation until mid-2026 before the European Central Bank's (ECB) target of two percent is reached. At the same time, the economy will not see a slight recovery until 2025.
July 1, 2024
Unrestricted Access to the Labor Market for Ukrainian Refugees in Austria Decided
Ukrainians who have fled the war should be able to participate in the Austrian labor market permanently and without restrictions. The Social Affairs Committee of the National Council today pushed the extension of the “Red-White-Red Card Plus” towards a final decision in plenary. The governing parties ÖVP and Greens, as well as the NEOS, voted in favor, while initiatives by the NEOS and FPÖ on immigration were postponed.
June 6, 2024
New Dynamics on the Labor Market and with the Red-White-Red Card: Austria Relies on the Influx of Skilled Workers
At a meeting of the interministerial Skilled Workers Strategy Committee, decisive measures to speed up the procedures for the Red-White-Red Card were discussed. The aim is to combat the shortage of skilled workers in Austria through more efficient recruitment of internationally skilled workers and to increase the location's attractiveness.
March 19, 2024
New "Integration Service for Skilled Workers" Opened in Austria
The Federal Minister for Women, Family, Integration and Media, Susanne Raab, visited the newly founded "Integration Service for Skilled Workers". The facility serves as a central point of contact for qualified skilled workers and their families as well as for companies operating in Austria. The service includes advice, information, and events on topics such as pre-integration, living and working in Austria as well as German language courses.
November 2, 2023
How is the Salary Landscape in Austria: A Clue by the Stepstone Salary Report 2023?
Salary discussions are often taboo, yet they play a central role in the world of work and significantly influence the decisions of both employees and companies. The Stepstone Salary Report 2023 emerges as a crucial resource to shed light on salary structures and dynamics in Austria.
October 12, 2023
Skills Shortage in Austria: Companies Feel Pressure, But Also Opportunities
A recent study by the recruiting platform Stepstone shows that the shortage of skilled workers is leaving a clear mark on Austria's companies. Two-thirds of respondents are concerned about the additional workload caused by unfilled positions. This is despite a slight increase in advertised vacancies of 2 percent in the first half of the year, with some sectors such as engineering, care, and construction even seeing significant increases.
September 13, 2023
Austrian Government Aims to Increase Skilled Immigration and Address Labor Shortages
The Austrian government, led by Economy and Labor Minister Martin Kocher, plans to attract a minimum of 15,000 skilled workers from non-EU countries to Austria annually by 2027 through the Red White Red card (Rot-Weiß-Rot Karte) program.
July 18, 2023
Insights into the Situation of Ukrainian Women Displaced in Austria
In the summer of 2022, the Austrian Institute for Family Research at the University of Vienna, on behalf of the Austrian Integration Fund (ÖIF), surveyed displaced women from Ukraine for the first time about their living situation and future plans in Austria. The results showed that at that time 90 percent of the respondents felt very well off and had an impressive level of professional qualifications. A new study now provides new insights into the situation of Ukrainian displaced persons in Austria.
July 9, 2023
Vienna Expands German Learning Support for EU Expats
Are you a newly arrived EU citizen in Vienna and struggling to learn German? The good news is that the city of Vienna is expanding its language learning support program, the Wiener Sprachgutschein, to include EU citizens. This means that you will now have access to the same level of funding as non-EU citizens for German language courses.
May 8, 2023
City Administrations in Focus: Vienna Conference on Human Resources
Demographic development, inflation, and international crises have an impact on all areas of our lives and bring new challenges for cities. Particularly in the area of human resources, cities must adapt to changing conditions and find new ways to attract and retain qualified personnel.
May 2, 2023
Unrestricted Access to the Austrian Labor Market for Displaced Ukrainians
Displaced Ukrainians in Austria will gain unrestricted access to the labor market, according to an amendment by the social committee in the National Council.
March 23, 2023
Austrian Integration Fund Upgrades its Supply for German Courses
The Austrian Integration Fund will extend the supply for courses of German courses from A1 to C1 level for immigrants and refugees. The courses are intended to assist immigrants in their Job seeking opportunities since learning German is a cornerstone for getting into the Austrian Job Market.
December 28, 2022
Multiple Integration Projects Will Be Promoted in Austria
67 integrational projects will be promoted through a common European fund in Austria until 2024. 28 Million Euros of this fund will go to Austria for integrational purposes.
December 22, 2022
Austria Supports Women From Ukraine With Their Integration Into Austrian Working Life
The 100 Women - 100 Opportunities program supports Ukrainian women with their integration into the Austrian labor market. This New COMPASS Support Program was initiated by Austrian Federal Minister for Women, Family, Youth and Integration Susanne Raab, the Austrian Integration Fund, LEA and private businesses.
June 7, 2022
Economic Outlook for Austria until 2024
Strong economic rebound amid high uncertainty about impact of Covid-Omicron variant. Find out what the economic future holds for Austria until 2024.
February 2, 2022
OECD: "Austria Is Set to Overcome the COVID-19 Shock and Its Economic Scars"
The Organisation for Economic Co-operation and Development (OECD) has released its latest Economic Survey of Austria. Read what the Survey says about the Austrian economy coming out of the latest wave of the COVID-19 pandemic.
December 20, 2021
Inaugural Statement of Austria's New Chancellor: "We Want to Reconcile with History"
Newly appointed Austrian Chancellor Karl Nehammer delivered his inaugural statement to the National Council. Read what the new chancellor said are some of the key issues his government will focus on.
December 10, 2021
The Consequences of the COVID-19 Pandemic for Austria's Economy
The consequences of COVID-19 pandemic continue to determine economic activity in Austria and the banks’ higher resilience has been key to COVID-19 response.
November 29, 2021
Migration: Expansion of Value and Orientation Courses for Asylum Seekers Planned
Integration Minister Susanne Raab announced that the mandatory values and orientation courses for asylum seekers will be expanded to include three days of lessons rather than just one. Read more about the expansion of the program and what will be taught.
November 12, 2021
Business Immigration Office: Vienna Launches New Service Point for Expats and International Companies
As of today, Vienna has its own service office for international professionals (expats) and companies for matters of residence law as well as consultations.
October 13, 2021
AMS to Provide Support as Companies Struggle to Fill Job Vacancies
Austria's public employment service (AMS) announced that it will be supporting companies with the "AMS Business Tour" initiative. Teams from the AMS will help companies in finding personnel, as the latest employment figures from the AMS show that three out of ten job vacancies currently cannot be filled even after three months of searching. Read more about this new initiative and some of the latest numbers from the AMS.
October 11, 2021
Austrian Unemployment Decreases in March
The number of unemployed Austrians has decreased significantly in March compared to the previous month. About 56,000 fewer people have been reported unemployed, while the number of people in training at the Austrian Arbeitsmarktservice (AMS) has increased. This is likely due to the recent measure, which provides training priorities in areas where there is a particular demand for qualified workers.
April 7, 2021
Ludwig Is Sworn In as New, Old Mayor of Vienna
Michael Ludwig was sworn in as mayor of Vienna by Federal President Van der Bellen. The President sees the coalition between Ludwig's Social Democratic Party (SPOE) and the New Austria and Liberal Forum (NEOS) as an interesting opportunity, since this constellation had not existed on a federal or state level before.
November 24, 2020
Equality in the Job Market: Federal Minister Advocates For Improvements
At the informal meeting of EU ministers and at a discussion with EU Commissioner Helena Dalli, Austrian Minister for Women's Affairs Raab pleaded for a mix of measures to meet the current challenges on the labor market and to bring more women into future industries.
October 13, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
Higher Unemployment Rate in Euro Zone, Decreasing Numbers in Austria
Even though many EU Member States have loosened Covid-19 containment measures, unemployment increased once again in the euro zone. Austria's rate decreased slightly from June to July 2020.
September 2, 2020
Coronavirus: Profit Warning Issued by Vienna International Airport - Reduced Working Time Planned
Travel restrictions and the resulting massive reduction in the number of scheduled flights at Vienna International Airport severely depress revenues and annual results for 2020.
March 12, 2020
New Working Holiday Program Enables Young Argentinians to Experience Living in Austria
Austria includes the largest Spanish-speaking nation, Argentina, in its range of working holiday programmes, so that in the future young people between 18 and 30 years of age from both countries will be able to travel more easily to the other country and gain new valuable experience on the labour market during a given period.
April 5, 2019
Labour Supply in Austria to Grow by 5% by 2050
The supply of labour in Austria will continue to increase in the future if the trends in immigration and labour market participation continue. In 2017 there were an annual average of 4.55 million labour force in Austria, in 2020 according to the trend variant of the forecast there will be 4.63 million (+2%) and in 2050 4.79 million (+5%). No further growth is expected in the second half of this century.
November 22, 2018
Annual Report of the European Commission: How did Austria do?
The European Commission presented its annual reports on 27 EU member states. How did Austria do? Well, it kinda ended up with a black eye. The report took a pop at Vienna for a number of structural shortcomings, including tax burden on labour, pension and healthcare expenditures, house prices, restrictive regulation in the services markets, stagnating productivity and and not enough action on spreading digital technologies. That isn’t a particularly good report card for the previous coalition government of ÖVP und SPÖ. Let’s see if the new coalition government of ÖVP und FPÖ can make the grade the next time around.
March 11, 2018
Bawag Laying Off Further 180 to 200 Employees
Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.
May 3, 2016
Austria: Right-Winged Extreme Party Buoyed by Tailwind
The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.
May 21, 2014
“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Fiat Intensifies Investments in Poland
As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.
May 9, 2014
Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI
The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).
May 7, 2014
Pewag Striving for Larger Market Share in US
The Austrian snow chain manufacturer appreciates the label “Made in USA”.
May 6, 2014
Federation of Industries: “Industrial Compact“ for European Competitiveness
The Austrian Federation of Industries (IV) considers the EU entry of Austria as the basis of prosperty and economic growth in the past years. However, now reforms are required to catch up to a global level.
May 5, 2014
Majority of Czech Entrepreneurs Want Euro
According to a survey, more than three quarters of Czech entrepreneurs are in favor of the country adopting the Euro.
April 30, 2014
Austria: Is Spindelegger Suitable as Finance Minister?
On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.
April 28, 2014
Serbia: New Government Taking Drastic Measures
New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.
April 28, 2014
Austria: Difficult Market Situation for Selling Bawag
The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.
April 24, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Serbia: “Huge Challenges Ahead”
President Tomislav Nikolic appointed Aleksandar Vucic to form a new Serbian government.
April 23, 2014
Austrians Cautiously Observant
Despite economic recovery the Austrian citizens are still cautiously observant.
April 22, 2014
Fast News Search
