Labor Market

Hungary: In a Debt Crisis Soon?

New all-time high in debts was reported. Hungarian populations hopes for fast political turn-around.

March 22, 2013

Poland’s Finance Minister Shows Optimism

Deputy Finance Minister Majszczyk announced that Poland will not exeed the planned budget deficit and forcasts economic growth for the second half of the year.

March 22, 2013

Part-Time Jobs Increase While Full-Time Jobs Are Axed

Figures in the labor market were not very satisfying due to the economy being affected by the crisis. The unemployment rate in Austria increased in 2012 more rapidly than in 2011, according to international calculations.

March 21, 2013

Slight Improvement for Austria’s Economy in 2013/14

IHS (Institute of Advanced Studies) and Wifo (Austrian Institute of Economic Research) forecast a sluggish growth for Austrian’s economy.

March 21, 2013

Hungary: Gross Earnings Increased Marginally

In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 2.5%, while net earnings excluding family tax benefits grew by 3.9% compared to 2011.

March 21, 2013

FCC to Cut Down On Manpower

Alpine’s parent company, Spanish construction enterprise FCC is going to cut back on 1,000 jobs. Furthermore, company shares that are not part of the core business in the amount of € 2.2bn are supposed to be sold.

March 20, 2013

Austria: Welfare Fraud Costs € 1bn Per Year

According to a study, which was commissioned by the Chamber of Commerce (WKO) and carried out by the Johannes-Kepler University in Linz, social fraud causes a smaller amount of economic damage than fiscal evation and black labor.

March 19, 2013

Czech Republic: Opposition Rejects Austerity Measures

Opposition leader Sobotka was re-elected last Friday as chairman of the Social Democrats. In an interview with Reuters he explains why the government needs to slow down on austerity measures.

March 18, 2013

Slovakia: Fico’s Plans For The Future

In a speech at the congress of the Czech senior opposition Social Democrats (CSSD) on Saturday, Prime Minister of Slovakia, Robert Fico explained his future plans.

March 18, 2013

Hungary: Dissatisfaction Towards Government Grows

Right-wing leader Viktor Orban has been in parliament for almost three years. But the promised reforms and changes to improve the economic situation came to nothing. Protests are arising.

March 18, 2013

Future of the EU Requires Solidarity And Integration

The EU has declared the year 2013 to be the “year of citizens”. The citizens of the EU should become aware of their European identity and their rights that come along with it.

March 15, 2013

Romanian Labor Costs Increased Dramatically

The EU average increase in labor costs in the 4th quarter in 2012 increased by 1.3 % throughout the EU. Front runner turns out to be Romania.

March 15, 2013

Poland: Inflation Decreasing

Declining inflation was supported by weaker demand and cost pressures in the economy, decrease in energy price growth as well as zloty exchange rate stronger than a year ago.

March 15, 2013

Hungary: Number of Emigrants to Austria Increases

More and more Hungarians emigrate to Austria due to economic and political reason.

March 14, 2013

Slovak Unemployment Rate on the Rise

In January, compared with January 2012, the employment decreased in five surveyed sectors.

March 14, 2013

Turkey: Economic Imbalances Become More Visible

Unlike the Eurozone, Turkey´s economy still shows substantial growth rates. However, Turkey suffers from a number of structural weaknesses.

March 13, 2013

Austrian Economy Recovers Cautiously

At the moment, Austria´s economy still stagnates. In the first quarter of 2013, the economic growth rate only comes at 0.1%, the Austrian National Bank says.

March 13, 2013

Latvia: Part Time Workers to Improve Employment

As economic growth has recovered, also demand in the labour market is increasing. Unemployed persons traditionally are the source used to increase the number of employed persons.

March 13, 2013

Estonia: Economic Growth Reached 3.2%

According to the second estimates of Statistics Estonia, in 2012 the gross domestic product (GDP) increased by 3.2% compared to the previous year.

March 13, 2013

Czech Republic: Average Wage Increased Due to Bonuses

In Q4 2012 the average gross monthly nominal wage per employee FTE in the entire national economy increased by 3.7% compared to the corresponding period of the previous year.

March 11, 2013

Estonia: Hope For Employment Rate to Increase

Employment continued to grow at the end of 2012.

March 8, 2013

Estonian Labor Market Records Promising Results

In the 4th quarter the number of job vacancies increased by four percent.

March 8, 2013

Slovenian National Bank: “GDP Decline in Line with Expectations”

The Governing Board of the Bank of Slovenia discussed current economic and financial developments.

March 7, 2013

Romania: Average Earnings Down Substantially

In January 2013, the average gross nominal earnings were 2138 lei, by 8.7% lower than the one registered in December 2012.

March 7, 2013

Leitl: "Restructuring Instead of Cashing in"

Christoph Leitl, head of WKO (Austrian Chamber of Commerce), dismisses further plans for a tax hike. The outcome would be fatal and the economy exposed to threats.

March 6, 2013

Bulgaria: Still Fighting Minimal Growth and Weak Economy

The Balkan country has the lowest living standards in the EU and the population’s frustration over its failure to improve the economic situation led to mass protests.

March 6, 2013

Poland: NBP Cuts Interest Rate to Record Low

The council of fiscal policy has cut interests rate down to 3.25 % which is the lowest since Poland’s democratic turnaround in 1989.

March 6, 2013

Estonia: Turnover in Business Sector Increased by 7 %

2012 proves to be a successful year for the business sector

March 6, 2013

Poland: Government Retains Economic Forecast

Despite the economic slowdown, Poland´s Minister of Finance Jacek Rostowski demonstrates optimism.

March 5, 2013

Romania: Corlatean Questions Admittance to Schengen-Agreement

Exterior minister Corlatean shows no more interest in Romania’s joining the Schengen-zone. Several member states disapprove of this idea.

March 2, 2013

Romania: Labor Market Situation Improves Slightly

In January 2013, the seasonally adjusted unemployment rate was estimated at 6.6%, decreasing by 0.1 percentage point as compared to the previous month.

March 2, 2013

Latvia: Unemployment Shrinks Rapidly

Data of the Central Statistical Bureau show that the number of unemployed persons (aged 15-74) in 2012 has diminished by 11.1 thousand.

March 1, 2013

Czech Republic: Unemployment Grows Slightly

In January 2013, the general employment was up by 1.3 percentage points. The unemployment rate came at 7.0% in January.

March 1, 2013

Austria: Record High in People Unemployed

At the end of February, 404,006 persons were seeking for a job. Compared to January this means an increase of 5.3 % or further 16,337 people jobless.

March 1, 2013

Bulgaria: Economy to Stabilize

Despite the enormous political instability, Bulgaria is expected to record positive growth rates this year.

February 28, 2013

Austrian Budget: Pensions as Risk Factor

Until 2017, the additional burden has a size of € 1.0bn, Austrian Minister of Finance Maria Fekter says in an interview with “Presse”.

February 28, 2013

Slovakia: Economic Growth Almost Coming to Still-Stand

Growth estimates are lower than predicted by NBS. Export sales lag behind and the domestic economy is in a recession. Opposing parties blame the new labor regulations.

February 27, 2013

Slovakia: Unemployment Rate Reaches All-time High

Prime Minister Fico blames stagnating economy for highest unemployment rate since 2004.

February 27, 2013

Austria: Productivity Grows Moderately

Since 2005, the labor productivity per hour was up by 16%, the Austrian advisory firm Czipin says.

February 27, 2013

Hungary: Employment Moves Upwards

In November 2012–January 2013, the number of employed people was 3,855 thousand, 39 thousand more than a year ago.

February 27, 2013

Hungary: Unemployment Rate Unchanged

In November 2012–January 2013, the number of unemployed people was 486 thousand, the unemployment rate was 11.2%.

February 26, 2013

Bulgaria: Protests Continue in Sofia and Varna

Bulgarian political decisions are afflicted by extreme unpopularity as almost 60 % of the population suffers from immediate poverty. Riots continue in Sofia and Varna.

February 24, 2013

Latvia: Exports Remain Growth Driver

In 2013, the Baltic countries will remain the best performing economies in the EU. However, the growth will slow down a bit.

February 23, 2013

Hungary: Government Demonstrates Optimism

Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz, believes that Hungary´s economy will perform well this year.

February 23, 2013

Bank Austria Plans Radical Reduction of Branches

The biggest Austrian bank wants to reduce the number of branches from 350 to 250 in the next two years.

February 22, 2013

Estonia: Gross Wages and Salaries Increased in all Economic Activities

According to Statistics Estonia, in the 4th quarter of 2012, the average monthly gross wages and salaries were 916 euros and the average hourly gross wages and salaries were 5.53 euros.

February 22, 2013

Poland: Economic Slowdown Becomes More Visible

Poland´s economic growth continues to decelerate. Domestic consumption and employment goes down.

February 19, 2013

Estonians Suffer from Unfavorable Working Conditions

According to a survey carried out by the daily newspaper Eesti Päevaleht, a considerably high number of Estonians want to leave the country. The situation in Lativa is almost the same.

February 18, 2013

Latvia: Workforce Grows Moderately

Results of the Labour Force Survey conducted by the Central Statistical Bureau show that, compared to the corresponding period of the previous year, the number of active population (aged 15-74), in the 4th quarter of 2012, has increased by 1.5%.

February 15, 2013

Estonia: Unemployment Goes Down

According to Statistics Estonia, the unemployment rate was 10.2% in 2012 and 9.3% in the 4th quarter.

February 14, 2013
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