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Merkel and Faymann Reaffirm their Commitment to the Euro
The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.
September 8, 2012
Unemployment: Highest Payments for Austrians
According to the globalization fund, Austrian unemployed receive three times as much than the EU average.
September 7, 2012
Slovakia: Rising Unemployment Despite 2.8% GDP Growth
In the second quarter of 2012, Slovakia´s GDP moved up by 2.8%. The unemployment rate reached 13.6%.
September 6, 2012
Further Increase in Unemployment
At the end of August 2012, 289,000 persons were looking for a job in Austria. At the same time, employment still grows.
September 3, 2012
IMF: Austria Must Prevent Spillover Effects
The Executive Board of the International Monetary Fund (IMF) has concluded the Article IV consultation with Austria. The Austrian banking sector is “overly ambitious” in the CESEE region, IMF says.
September 3, 2012
Next Pension Reform Ahead
European Forum Alpbach: In 2016, the next pension reform may be necessary in Austria.
September 1, 2012
Poland´s Central Bank Dissatisfied with GDP Growth
In the second quarter, Poland grew by 2.4% instead of 3.0%. The Polish Central Bank does not want to postpone quantitative easing measures any longer.
September 1, 2012
Austrian Unemployment Up, but Lowest in EU
In July, the Euro area unemployment rate came at 11.3%. Austria´s youth unemployment rate is the second-lowest.
August 31, 2012
Faymann Against Breaking Up the Eurozone (Part 1)
At the AlpbachE conomic Symposium 2012, Austria´s Federal Chancellor Werner Faymann underlines the “advantages of the EU”. Without the euro, Austria would face a dramatic recession, he warns.
August 30, 2012
Austrian Industry Promotes Employment of Older Workers
The Federation of Austrian Industries (IV) argues that the state budget may reduce pension costs by € 7.4bn if the reforms of Germany were implemented in Austria too.
August 29, 2012
Croatian Labor Market Crisis Deteriorates
Not only the unemployment rate is increasing. Croatia has the third-highest youth unemployment rate in Europe.
August 29, 2012
Keuschnigg Pleads for Increasing Retirement Age
At the Alpbach Forum 2012, the Austrian economist Christian Keuschnigg explained the necessity of implementing reforms for the Austrian retirement plan.
August 29, 2012
Kapsch: “We Cannot Risk the Welfare State”
At the Alpbach Meeting, the President of the Federation of Austrian Industries (IV) Georg Kapsch underlines the necessity of competition. The
August 28, 2012
Austria: 22% of Overtime Unpaid
In 2011, more than a fifth of the overtime was not paid by employers. In total, 66.9 million long hours were unpaid.
August 25, 2012
Poland: Unemployment Shrinks
In July, Poland´s unemployment rate was down by 0.1 percentage points, the Polish Central Statistical Office reported.
August 25, 2012
Economic Crisis: Croatians are Pessimistic
According to the Croatian website politika plus, 84% of the Croatians believe that the current economic crisis will sharpen further.
August 24, 2012
Orban Underlines Success of Hungarian Crisis Management
Hungary´s Prime Minister Viktor Orban wants to lower the public debt quota further. Hungary´s recession would be due to the weak Eurozone, he says. Orban forgot to mention some details, however.
August 24, 2012
Lithuania Suffers From Crisis in Eurozone
The Baltic country has to lower GDP growth forecasts. As foreign trade grows not as fast as expected, the Bank of Lithuania becomes more cautious. This year, Lithuania´s GDP is expected to grow by 3.0%.
August 22, 2012
Slovakian Unemployment on the Rise
In July, Slovakia´s unemployment quota rose by 0.12 percentage points to 13.27%.
August 21, 2012
Austrian Work More than EU Average
According to a report of the Germany Statistical Office, Germans and Austrians tend to work more. The relevance of leisure is shrinking.
August 20, 2012
Austrian Economy to Stagnate
Domestic economy set to stagnate in the third quarter – chances of a slight upswing towards the end of 2012. Thanks to a good first half of the year, economic growth will come in at around 1 per cent in 2012.
August 18, 2012
Non Standard Employment on the Rise
31% of all Austrian employees affected by forms of non standard employment in 2011.
August 8, 2012
Austrian Construction Industry Slackens
This year, unemployment in the Austrian construction industry is relatively high. The order situation is everything but favorable.
August 7, 2012
Austrian Enterprise Creation Slightly Up
2010: 26 172 start-ups, enterprise creation rate 6.5%; more than 19 000 new employer enterprises.
August 7, 2012
Slovakia: Rating Confirmed by S&P
The U.S. rating agency Standard & Poor´s reiterates Slovakia´s A/A-1 rating. The outlook is is still „stable“. Slovakia´s labor market data are less promising, however.
August 6, 2012
Polish Business Service Sector Booming
In 2011, 38 new business service centers were established in Poland. The number of employees doubled since 2009.
August 4, 2012
Considerable Rise in Unemployment
In July, the Austrian unemployment was up by 8.7%. In total, 286,000 persons had no job last month.
August 3, 2012
New Unemployment Record in Eurozone
The Euro area unemployment rate came at 11.2% in June 2012. Austria leads the ranking.
July 31, 2012
Staff Efficiency: CESEE Catches Up
Regarding staff efficience, Eastern Europe has reached almost the West European level.
July 21, 2012
"Wage Cuts in Southern Europe Inevitable"
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies thinks that a fiscal union will not work. The recession in Southern Europe will go on.
July 21, 2012
EU – An Escape for Serbia?
The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.
July 14, 2012
Income Grows Slower Than GDP
For years, the increase in wages and salaries is lower than the rise in company profits.
July 14, 2012
Substantial Wage Differences Between Austrian Industries
Median gross hourly earnings 2010 € 12.79; differences by branches and occupations.
July 12, 2012
Hungary Plans to Boost Economy
With a € 1.0bn programme, the Hungarian government aims to create more jobs and stimulate consumption.
July 9, 2012
Austria Leads European Employment Rankings
Regarding regional unemployment and total unemployment, Austria ranks first. The youth unemployment rate is the second-lowest in the EU.
July 4, 2012
Austria Simplifies Migration of Skilled Workers
A simplified migration procedure for skilled workers in shortage occupations has been in place since 16th June 2012.
July 3, 2012
Hungary: Financial Transaction Tax to be Extended
The Hungarian government plans a growth stimulus program, which should be funded with the extension of the current financial transaction tax.
June 30, 2012
Strong Increase in Unit Labor Costs
Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.
June 29, 2012
Leitl: „Securing Austria´s Top Ranking“
WKO´s President Christoph Leitl calls for reforms. In order retain Austria´s economic position, reforms should be accelerated and taxes should be cut.
June 27, 2012
EU Discusses Growth and Employment Pact
Austria´s State Secretary Waldner at the General Affairs Council in Luxembourg: „Putting and end to the negative spiral“.
June 27, 2012
Investment Attractivity: Poland Ranks Second
According to Ernst & Young, the most attractive location for investments in Europe is Germany, which is followed by its Eastern Neighbour Poland.
June 25, 2012
New IV´s President Dissatisfied with Political System
The corruption scandals oft he past would damage Austria´s reputation as business location, Georg Kapsch thinks.
June 23, 2012
“UK Faces Skills Tragedy"
The Austrian crane manufacturer Liebherr-Sunderland has urged UK engineering businesses to upskill to ensure they can compete effectively in high value international markets.
June 19, 2012
Tricky Climate for Austrian Economy
The economic activity continues to lose pace – a weaker economic growth is expected for the remainder of the year. Exports and stable domestic demand support an unchanged GDP forecast of 0.8 per cent for 2012.
June 19, 2012
Fekter Defends Euro Aids
Austria´s Finance Minister Maria Fekter underlines the „necessity of solidarity“ and stressed ist commitment to the common currency. The Austria opposition party FPÖ made a serious protest.
June 16, 2012
Gloomy Growth Prospects for Austria
Bank Austria cuts its growth prospects for Austria. Instead of a GDP growth of 2.0% in 2013, the analysts now expect economic growth to reach 1.5%.
June 16, 2012
Austrian Hourly Labor Costs Rise Significantly
First quarter 2012 compared with first quarter 2011: Euro area hourly labour costs rose by 2.0%.
June 14, 2012
Austrian Labor Market: Rise in Employment
More employees and fewer self-employed in the first quarter of 2012; decrease in unemployment and job vacancies.
June 14, 2012
Austrian Central Bank Expects Economic Stabilization
Austria´s budget deficit is expected to decrease, the economic growth should increase slightly.
June 11, 2012
„We Won´t Get Any Money Back“
The former director of the Austrian Institute of Advanced Studies (IHS) does not think that Greece is able to pay back its debt. Nevertheless, Felderer still believes in the euro.
June 9, 2012
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